Will they mark it down 25% each week?
By Ron Newman - Thu, 04/16/2009 - 8:55pm.
The current owner of Filene's Basement has listed it as a "discontinued operation" and put it up for sale. If nobody buys it after 30 days, will they give it to charity?
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Running of the Buyers?
If they have several interested buyers, they could have them bring their teams to grab pieces of the company off the racks to see if they fit their CEO and their tastes.
So the downtown store was
So the downtown store was 20% of their business, which is now lost.
Surprise, surprise.
Guess that luxury condo idea wasn't such a good one, after all. Who would have thought?
It was only because they
It was only because they expected people to plow through buildings to get to their temporary location. (for those who don't know; the "directions" included to go to their temporary location is an arrow going through buildings.)
In all seriousness, I'm a little surprised that cheap clothes aren't doing well in this economy. Whatever the circumstances, people still need to wear pants.
What temporary location?
There was never a temporary location for the downtown Filene's Basement. (There probably should have been. Then the chain wouldn't have lost 20% of their sales and be in the predicament they are in today.)
They thought they didn't
They thought they didn't need a temporary location, because everyone could just go to the Boylston Street store.
They couldn't conceive that people went to the Downtown Crossing store because they wanted the original Filene's Basement with discontinued items and markdowns, not the suburban chain stores that are little different from Marshall's.