Men's Wearhouse affiliate wins bid for Filene's Basement assets Lease on Columbus store included

http://columbusdispatch.com/live/content/business/stories/2009/06/08/filenes.html?sid=101

Men's Wearhouse affiliate wins bid for Filene's Basement assets Lease on Columbus store included Monday, June 8, 2009 11:53 AM By Tim Feran THE COLUMBUS DISPATCH An affiliate of Men's Wearhouse placed the winning bid for assets of Filene's Basement, including the lease for the Columbus location. The affiliate, K&G Acquisition Corp., offered $67 million to cover the purchase of 17 to 20 of Filene's store leases; inventory from all 25 existing locations; leases for the company's headquarters in Burlington, Mass., and distribution center in Auburn, Mass.; as well as the Filene's Basement trade name. The bid is subject to a hearing Wednesday in U.S. Bankruptcy Court in Delaware. The agreement is expected to preserve jobs for the vast majority of Filene's 1,600-plus employees, said Scott Rusczyk, president of FB Acquisition II, in a statement. That company is the Buxbaum Group affiliate that acquired Filene's Basement from Columbus-based Retail Ventures on April 20 and then filed for Chapter 11 bankruptcy on May 4. In Ohio, 105 people are employed at the Filene's store at 3704 W. Dublin-Granville Rd. tferan@dispatch.com