Article: Filene's Basement Auction Yields $67 Million Bid From Men's Wearhouse.

Filene's Basement announced that an affiliate of Men's Wearhouse (NYSE:MW) emerged as the winning bidder in a nine-hour bankruptcy auction for assets of the off-price chain that was held in Manhattan on Friday.

The affiliate, K&G Acquisition Corp., offered a total of $67.0 million that will cover the purchase of 17 to 20 of Filene's store leases; inventory from all 25 existing locations; leases for the company's headquarters in Burlington, Mass., and distribution center in Auburn, Mass.; as well as the Filene's Basement trade name. Men's Wearhouse's bid--which is subject to a hearing in Federal Bankruptcy Court in Wilmington, Del. on June 10--includes ...

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