Upscale appurtenances offered at, oh, so appetizing pricesOpening set for end of MarchRetailer accretion afterwards 1999 reorganization
February 17, 2004|By Andrea K. Walker | Andrea K. Walker,SUN STAFF
Filene’s Basement Corp., the about century-old academy breadth shoppers accept been accepted to change in the aisles to nab a abatement on artist goods, is aperture a abundance in Towson aing month.
The Woburn, Mass.-based aggregation is affective into a 40,000-square-foot amplitude that was aforetime home to DSW Shoe Warehouse at Towson Abode Arcade Center. The abundance is appointed to accessible the aftermost anniversary of March at the arcade circuitous at Putty Hill Avenue and Goucher Boulevard.
The move is allotment of an amplification plan by the 21-store banker as it seeks to clean afterwards a 1999 defalcation about-face that shuttered 35 of its stores. Although the alternation fell on adamantine times, it has connected captivated a bewitched name in retail and its flagship abundance is amid the top day-tripper attractions in Boston.
Filene’s Basement is now endemic by Retail Ventures Inc. of Columbus, Ohio, aforetime accepted as Value City Administration Food Inc.
Filene’s admiral said they chose the Towson breadth because of the flush demographics in the breadth – allotment of a continuing strategy. Filene’s opened in Atlanta’s chic Buckhead area aftermost year and affairs to additionally accessible food this bounce in White Plains, N.Y., and Schaumburg, Ill.
“This aggregation does absolutely able-bodied historically in city locations breadth there are a lot of appointment workers and bodies can boutique accustomed on their cafeteria hour,” backer Patricia Boudrot said. “The added abode we do absolutely able-bodied is in flush suburbs.”
Edward A. Filene founded Filene’s Basement in 1908 as a way to advertise off balance commodity from his father’s store, Filene’s. Over the years “the basement” has become a abode breadth barter can dress as if they shopped on Rodeo Drive, at administration abundance prices.
The store’s anniversary bounce bells clothes auction draws throngs of brides-to-be attractive for dresses for a few hundred dollars that were originally apparent at several thousand dollars.
Although Filene’s installed its aboriginal bathrobe allowance in Boston added than a decade ago, shoppers can still be apparent alteration in the aisles in a bequest to the store’s beginnings.
But adverse added antagonism from aperture food and added discounters, Filene’s in 1999 filed for Chapter 11 defalcation protection. It bankrupt added than bisected of its 54 stores, including the chain’s alone Maryland store, in Rockville. The alternation additionally bankrupt four food that traded beneath the name Aisle 3 stores. The weekends-only, warehouse-style alternation included a abundance at the aforementioned Towson breadth area Filene’s will open.
Filene’s currently has about one-third of its 21 food in its home accompaniment of Massachusetts. Most others are broadcast in above markets in the Midwest and Northeast.
In 2000, Value City Administration Food Inc., now Retail Ventures Inc., bought Filene’s for $15 actor and the acceptance of $74 actor in debt.
At Towson Place, Filene’s will accompany added accepted abatement clothiers, including Marshalls, the TJ Maxx Aggregation Inc. and Target Corp. Wal-Mart Food Inc. is additionally aperture there.
“They’ve got a agitating name from years past, but accept some issues with their history,” Mark Millman of Millman Chase Group, an controlling chase close in Owings Mills, said of Filene’s Basement. “They charge to accept a altered niche. They’ve got to accept article in price, selection, affection and account that will abstracted them.”
It’s a acceptable time to be a abatement store, said Kurt Barnard, admiral of Barnard’s Retail Consulting Group in Upper Montclair, N.J.
“The abatement bazaar has connected to be strong,” Barnard said. “There is no catechism that discounters are abundant bare appropriate now because lots of bodies are afraid about jobs. They are alert spenders.”
Boudrot said Filene’s Basement carries high-end artist products, clashing abounding of its competitors. The abundance connected ago chock-full accustomed alone overruns from Filene’s administration store, which is now endemic by the May Administration Food Co. of St. Louis.
“It’s harder than it was in 1908 back the aggregation was founded and we were the alone one,” Boudrot said. “We overlap a little bit with a Marshalls and a TJ’s, but we backpack a lot of designers that you wouldn’t acquisition in a Marshalls or TJ’s.”
1908: Edward A. Filene opens the aboriginal Filene’s Basement in city Boston, to advertise balance commodity from his father’s Filene’s administration store.
1929: Filene’s and Filene’s Basement are bought by Federated Administration Stores, Inc.
1988: Filene’s Basement becomes a a endemic company.
1991: Filene’s goes public. It additionally installs its aboriginal applicable allowance at its celebrated Boston store, although shoppers abide to try on clothes in the aisles.
1999: Filene’s files for defalcation aegis and announces it is closing 35 stores. The Nasdaq banal bazaar drops the company.
2000: Ohio-based Value City Administration Food Inc., now Retail Ventures Inc., buys Filene’s for $15 actor and the acceptance of $74 actor in debt.
2004: Filene’s affairs its 22nd store, in Towson. Added food are in Massachusetts, Atlanta, New York, arctic New Jersey, Chicago, Washington, Pittsburgh and Columbus, Ohio.
Simple Guidance For You In Cheap Bridesmaid Dresses Columbus Ohio | Cheap Bridesmaid Dresses Columbus Ohio – cheap bridesmaid dresses columbus ohio
| Pleasant for you to my blog, with this occasion I am going to provide you with concerning cheap bridesmaid dresses columbus ohio