Men

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The restructuring team for the chain this weekenrd disclosed the bidfrom Men’s Wearhouse (NYSE:MW) affiliatwe The company picked up 17 to 20 Filene’s store leases, including those for both its Ohio shops, inventorgy from the chain’s 25 remaining leases for its Burlington, Mass., headquarters and an Mass., distribution center, and the company’s trade name. The five to eighy Filene’s stores that won’t be picked up in the auctiomn are expected to be closed in thecoming weeks. Filene’s said the “vast majority” of its more than 1,6009 employees will be spared as a resulrt ofthe K&G bid.
The company employ 105 at its Columbus store and 43 ata Cleveland-area K&G’s bid won out over a “stalking horse” bid by asset management firm , which had agreed in bankruptcy court last month to snap up 17 of the discountt retailer’s remaining 25 stores for $22 million. Filene’s Basement sought protection from creditors in May in Delawarebankruptcy court, months after closint several stores. Columbus-based (NYSE: RVI), whicyh maintains a majority stake in discount shoeretailer (NYSE:DSW), sold the chainm this year to FB II Acquisitionh Corp., a new entity owned by liquidation and turnaroundf firm .