Syms, the 52-year-old discount department store chain which purchased Filene’s Basement in 2009 bankruptcy auction, has filed for Chapter 11 bankruptcy protection and is shutting down all of its stores by the end of January.
The New Jersey based retailer was founded in 1959 by Sy Syms and is currently headed Marcy Syms. Filene’s Basement was founded on 1909 by Edward A. Filene, son of William Filene who founded Filene’s. Syms will be closing all of its 25 Syms and 21 Filene’s Basement stores which together provide work for almost 2,500 employees. The Falls Church location in Seven Corners will close January 9.
For more information visit www.syms.com.