Filene's Basement Could Be On Brink Of Ch. 11

Law360, New York (April 28, 2009, 12:00 AM EDT) -- The Massachusetts-based clothing retailer Filene's Basement is reportedly close to filing for bankruptcy, days after its parent company unloaded the chain to a liquidator.

Filene's Basement will likely file for bankruptcy protection within the next few days, The Boston Globe reported Tuesday, citing an anonymous source with knowledge of the matter.

The company previously filed for bankruptcy in the late 1990s and later emerged.

On Monday, Filene's Basement's parent company, Retail Ventures Inc., said in a filing with the U.S. Securities and Exchange Commission that it...
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