And they were already in the basement:
"Just how low can Filene’s Basement go?; Under Syms ownership, sales and identity fade" by Jenn Abelson, Globe Staff / June 18, 2011
After two bankruptcies and the loss of its Downtown Crossing flagship store, Filene’s Basement thought it had finally found a savior in Syms.
The New Jersey discounter scooped up the historic Boston bargain retail chain at an auction in June 2009, giving it another chance to stay alive. Syms’ vision was impressive: New stores featuring both merchants under one roof, a larger buying team with more clout, and promises to return Filene’s Basement to its birthplace in Downtown Crossing.
Two years later, however, Syms appears to be bringing down the Basement, according to some retail analysts and longtime customers. Facing massive losses, angry shareholders, and alienated shoppers, Syms has confirmed that it is now seeking strategic alternatives. That could include selling the business....
Then I ran into a wall which left me in the dark in the basement!
Which is fine because the other section I had marked off ended with the notation "why am I reading this?"
--more--"
Related: Boston Borders Closed
