Why did Filene's go out of business?
The 2009 economic crisis negatively impacted the chain, prompting the closing of many stores and the eventual sale of the chain from Retail Ventures, Inc. to Buxbaum Group, which filed for bankruptcy in May 2009. Filene's Basement was then sold to Syms Corporation, which also owns the Syms chain of off-price stores.
Who owned Filene's?
Federated Department Stores, Inc.Lazarus & Co. and Abraham & Straus to form Federated Department Stores, Inc. (See also Fred Lazarus, Jr.) Filene's department store business was sold to the May Department Stores Company in 1988, while Filene's Bargain Basement was purchased by Value City Department Stores, Inc.
Does Filene's Basement still exist?
Discount department store Filene's Basement closed the last of its stores a few years ago, but just opened its doors to shoppers once more.
Who owned Jordan Marsh?
Jordan MarshIndustryRetailSuccessorMacy'sHeadquartersBoston, Massachusetts Miami, FloridaProductsClothing footwear bedding furniture jewelry beauty products housewaresParentFederated Department Stores5 more rows
How long has Filene's been closed?
The last remaining Filene's stores closed on September 9, 2006, with the conversion of the May-owned nameplates, Macy's had become a national retailer with over 800 stores.
When did Macy's buy Filene's?
In 1986, the Filene's Building was added to the National Register of Historic Places. In 2006, Filene's stores were merged with Macy's phasing out the Filene's name.
When did Filene's Basement open?
1909Filene's Basement / Founded
When did Filenes Basement close?
2011Filene's Basement / Ceased operations
When did Filene's open?
1881Filene's / Founded
Is Jordan Marsh coming back?
Twenty years after New England-based Jordan Marsh shuttered its doors, the department store chain's name and its signature blueberry muffins are making a comeback.
How many Jordan Marsh stores were there?
and combined its Abraham & Straus-Jordan Marsh unit with Macy's to create Macy's East. Macy's put its name on Jordan Marsh's 18 stores, all of which are in New England except for one in Albany, N.Y.
When did Jordan Marsh close?
1996Jordan Marsh / Ceased operations
What buildings were protected when Filene's closed?
The two oldest buildings were protected including the main 1912 Filene's store building and a 1905 former glassware and china seller's building on the opposite corner.
What was the last major project of Daniel Burnham?
By 1929 Filene's expanded the flagship building, converting the whole block around Washington, Summer, Hawley and Franklin streets into one department store. This was the last major project by legendary Chicago architect Daniel Burnham and his only work in Boston. This building was widely regarded as one of the best examples ...
What is the best example of Beaux Arts architecture in Boston?
This building was widely regarded as one of the best examples of Beaux Arts architecture in Boston. In 1986, the Filene's Building was added to the National Register of Historic Places. In 2006, Filene's stores were merged with Macy's phasing out the Filene's name. In a normal store merger, the old stores are converted into the new stores.
Where is Filene's department store?
Filene's Department Store was a department store building at 426 Washington Street in Downtown Crossing, Boston, Massachusetts. It was the flagship store of the Filene's department store chain. The building has been renovated and now serves as the offices for Havas and Arnold Worldwide. The building is maintained as part of the Millennium Tower.
Who bought the Millennium Tower?
See also: Millennium Tower (Boston, Massachusetts) After the store closed, the building was marketed and was eventually bought by Vornado Realty Trust of New York. Vornado teamed up with Gale International for a $700 million redevelopment of the Filene's site.
When was Filene's basement founded?
Filene's Basement was started in 1909 in Boston by William Filene, initially as a place for the Filene's department store to sell excess merchandise.
Why are the two discount chains burdened?
Company CEO Marcy Syms said in statement the two discount chains were burdened by increasing competition from department stores offering the same brands at similar discounts and by a rise number of private label discounters.
What does it mean when a company files in anticipation of peak shopping season?
A filing in anticipation of the peak shopping season is a sign that consumers are still not spending and could mean bad news for other retailers. Founder Sy Syms started the company in 1959, buying excess merchandise directly from manufacturers at a discount.
Where was Syms filed?
The petitions were filed in the U.S. Bankruptcy Court for the District of Delaware. Syms and Filene's will be jointly administered during the bankruptcy. The companies are seeking court approval to hire someone to handle the merchandise liquidation and conduct sales.
How many Filene's basements are there in New York City?
There are six Filene's Basement stores in the greater New York City area, including the Union Square and Upper West Side locations in Manhattan, and stores in Queens, Westchester and Long Island.
Is Syms Corp going bankrupt?
Discount retailer Syms Corp. and its subsidiary Filene's Basement have filed for bankruptcy protection and plan to close all 46 of their stores, including two in Manhattan. Syms, based in Secaucus, N.J., acquired Filene's Basement out of bankruptcy protection in the spring of 2009 for $62.4 million, but struggled to turn the chain around.
Is filing for bankruptcy before Christmas bad?
The filing before the key holiday season could be a bad sign for retailers, Sabino said. He said even distressed retailers wait until after Christmas to file for bankruptcy, as the holiday season is their last chance to make some money.
What is an encyclopedia editor?
Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. ...
Who was the first department store to use charge plate billing?
Filene’s was the first store to use the charge-plate system and cycle billing, and it pioneered branch-store operation. In 1929 the store joined F. & R. Lazarus & Co. and Abraham & Straus to form Federated Department Stores, Inc. ( See also Fred Lazarus, Jr.) Filene’s department store business was sold to the May Department Stores Company in 1988, while Filene ’s Bargain Basement was purchased by Value City Department Stores, Inc. (renamed Retail Ventures, Inc.), in 2000.
Who was the president of Filene's Sons Company?
Filene’s Sons Company. Edward Filene became president and was in charge of overall company policy and merchandising. His most famous and profitable innovation was the Automatic Bargain Basement, to which slow-selling goods were relegated after they had failed to sell upstairs in a designated period…. Lincoln Filene.
When did the Great Depression begin?
Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.
What is an encyclopedia editor?
Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. ...
Where did William Filene's father live?
His father, William Filene (originally Filehne), emigrated from Prussia to the United States in 1848, opened (and closed) a series of stores in Massachusetts and New York, and finally, in 1881, set up a retail “specialty store” in Boston.
Who were William Filene's sons?
Filene's. …William Filene and his sons, Edward and Lincoln.…. Lincoln Filene. …it over to his sons, Edward and Lincoln, in 1891. Lincoln Filene, as chairman (a post he held until the year of his death), handled personnel.
What did Campeau do at the smelting plant?
The teen-aged Campeau worked in the maintenance shop that kept those trucks going. One day, there was a rash of breakdowns. Soon only two trucks were running, then one. It seemed that the whole vast smelting operation would grind to a halt. But Campeau had an idea. His boss, skeptical but desperate, gave him a chance. Working all night, Campeau hand-ground the crankshaft of one of the trucks back into rough shape. It was a crude job, but it worked, keeping the expensive operation from shutting down.
What does Campeau say about the United States?
THE UNITED STATES, CAMPEAU has said, is ''a refreshing atmosphere'' to do business in, where ''it doesn't matter what your name is.'' As a French Canadian, he has long felt himself discriminated against in his own country.
How many stories is Scotia Plaza?
Campeau also asserted himself through other highly visible projects. Welders and masons are now finishing Campeau's 68-story Scotia Plaza, at Toronto's vital Bay and King Street juncture. A brown structure whose faceted sides are reminiscent of Trump Tower, it is the second-tallest building in Canada.
How old is Robert Campeau?
Today, the 64-year-old Robert Campeau (pronounced com-poh) faces a much larger repair job, with the same determination and resourcefulness. He thinks he has a way to make more efficient the machinery of that great but ailing American institution, the department store. Again, there are skeptics. But Campeau, though new on the scene, thinks he can prove them wrong. It is a role he revels in.
What is volatile in the Federated?
But there is another side. ''Volatile'' is the word used by a number of those who have worked for or dealt with him. Screaming matches were a regular feature of meetings with advisers during the Federated takeover. Employees and advisers tell of late-night telephone calls and sudden changes of mind. ''He can go from high to low in about two seconds,'' says Gluskin.
Where was the Campeau office building built?
The Government rented more than half the office space in Campeau's huge Place de Ville development in Ottawa, and in 1976, Campeau was chosen to build a Government complex in Hull. The controversial project, which the Government was simultaneously renting and buying, was jokingly known as Place Campeau. Campeau claimed that he built it at far less cost per square foot than a similar complex the Government built itself. But Canada's Auditor General Kenneth Dye asserted, after an extensive investigation, that the Government had overpaid Campeau for the office space.
Where did Campeau grow up?
Campeau grew up in the poor, French section of Sudbury, where fumes from the nickel smelters had turned the once-beautiful landscape into a wasteland so grim that the town was nicknamed Sludgebury.
