Monday, May 4, 2009

Filene's files for Chapter 11 bankruptcy protection

By Andria Cheng, MarketWatch
Last update: 9:18 a.m. EDT May 4, 2009

NEW YORK (MarketWatch) -- Weighed by the economic downturn that has curtailed demand, off-price retailer Filene's Basement on Monday filed for Chapter 11 bankruptcy protection and said it agreed to sell 17 of its 25 stores to real estate and asset management firm Crown Acquisitions.

http://www.marketwatch.com/news/story/story.aspx?guid=%7BADD7B142%2D9765%2D4DBD%2D8DB0%2DB29167E81F7B%7D&siteid=YAHOOB

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