acquisition: April 2009 Archives

Struggling discount retailer Filene's Basement has been sold to a liquidation and turnaround specialist. Officials noted "uncertainty" for its 25 doors but no announcement of store closings or liquidation has been made.

Filene's Basement has had difficulty all year; in January it closed 11 stores in a restructuring move.

For what it's worth, Timely Demise is a fan of Filene's Basement (so say many of the clothes in the TD closet) and is rooting for a turnaround and not a liquidation.

Women's Wear Daily is reporting (subscription required) that Stila Cosmetics, which has been struggling in recent weeks, has been acquired by a private equity concern. Stila, which was owned by Estee Lauder until 2006, temporarily closed its website (and perhaps the entire company) in late March. The sale of Stila would presumably allow the brand to continue operations and pursue new initiatives.