|
|
Article: Filene's Basement Auction Yields $67 Million Bid From Men's Wearhouse.
- Article from:
- Telecommunications Weekly
- Article date:
- June 24, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
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 ...