The Filene's Basement discount chain has been purchased by Men's Wearhouse, the men's clothier. Men's Wearhouse outbid two other companies, including fellow discount retailer Syms. The buyer is expected to retain roughly 20 of Filene's Basement's 25 existing stores, shutting a few suburban locations.
Filene's Basement has had an interesting run in the past year, from closing a third of its stores to selling itself to a liquidation firm shortly before filing for bankruptcy in May.
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