http://www.suntimes.com/business/1494978,w-filene-basement-bankruptcy-032509.article
Women's Wear Daily trade magazine is reporting Wednesday that Filene's Basement Inc. could be at risk for an involuntary bankruptcy because it appears that the discount retailer is allegedly not paying its vendors.
The magazine reports that an ad hoc creditors committee could force Filene’s into an involuntary bankruptcy.
A spokeswoman for Filene’s is quoted by Women's Wear Daily as saying the retailer “is continuing to aggressively pursue strategic alternatives for the benefit of the company and our valuable vendor partners. We have told our vendors this and we have told them that we will communicate with them as soon as we have developments to report.”
Filene’s Basement is owned by Retail Ventures Inc., the holding company that operates Filene’s and discount footwear retailer DSW Inc.
The Women's Wear Daily report said neither DSW nor RVI would be part of a bankruptcy. RVI guarantees certain obligations under a loan agreement between Filene's and its bankers, according to the Women's Wear Daily report.
No comments:
Post a Comment