Filene's Strikes $70M Deal With Ex-Parent, DSW

Law360, New York (September 30, 2009, 1:38 PM EDT) -- The liquidating estate for bankrupt Filene’s Basement Inc. has struck a deal with its former parent Retail Ventures Inc. and show retailer DSW Inc. to wipe out $70 million in claims related to loans, bills and other obligations, potentially boosting the recovery for unsecured creditors to more than 50 cents on the dollar.

The remaining portion of the discount chain, left in court protection after an earlier asset sale, filed a motion Friday in the U.S. Bankruptcy Court for the District of Delaware seeking approval for...
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