Filene's Basement

[gbrown_nyc]

For those of you that frequent the dungeon that is Filene's a few things cropping up in the news today indicate they are in serious trouble. Not paying vendors etc. Bankruptcy is being discussed.

That begs the question what would an inventory clearance/bankruptcy sale look like at a Filenes? Potentially mind boggling, both good and bad.

 

[chorse123]

I thought in Chapter 11, they wouldn't have to liquidate. Anyway, in any given Filene's, I'm only interested in maybe 5% of their stock anyway, so....

 

[gbrown_nyc]

You could be right about that. I had visions of big going out of business sale signs with Ed Hardy piled up for a $1 an item.

 

[zalb916]

Originally Posted by chorse123

I thought in Chapter 11, they wouldn't have to liquidate. Anyway, in any given Filene's, I'm only interested in maybe 5% of their stock anyway, so....

I've gotten some gems at Filene's, but 5% is way too generous. It's more like 5% of the Vault stuff. And the Vault stuff is probably less than 5% of the entire inventory.

 

[chorse123]

That's probably fair. I'm thinking across all sizes, but you might be right.

 

[pscolari]

If I remember correctly, FB also filed for Chapter 11 around 98 or 99 when they were still more of a MA retailer. I believe certain vendors who were owed significant amounts of money then, do not sell through FB as a result of being stiffed.

 

[Trapp]

I live in california and have never been to the brick & mortar filene's. I've read some bad rap about the store here on the boards, but i thrifted a filene's overcoat that I love. Wore it to an interview in December.

 

[JSC437]

I got a NWT Brioni button down there for 29$ last week. Although, the shirt is a 15 3/4 neck and is a bit small for me. Every now and again they have some cool stuff that is not priced correctly.

I would be upset if the closed down. It is one of the stores i frequent, along with
C21 and Daffys.

 

[HRoi]

i hope not. FB in my area fills a need for great deals on quality stuff that is a huge step up from TJ Maxx, and during the times that full ticket retailers like Saks aren't offering any crazy markdowns.

yes, the prospect of a liquidation sale is mouthwatering, but i would rather have the steady stream of stuff to choose from for a longer period of time. kinda like how i would rather keep the goose laying the golden eggs alive and in good health, instead of killing it to get more eggs right now

 

[Flambeur]

There are multiple options in chapter 11 including partial or complete liquidation

 

[EdenResident]

The FBs in my area are ghetto as hell. Tons of old **** from Affliction and knockoff brands that even the douchebags wouldn't touch. They even got American Eagle in there!!! Seriously, WTF? Every time I go there, there are no more than 10 shoppers, even on Saturdays. No wonder they got closed down.

 

[antirabbit]

We have several in Chicago, only one ever has anything of interest. The one on MI ave.
The one in the suburbs is more than worthless, its worse than a Marshalls in North Dakota.

 

[pred02]

In Boston area the one downtown crossing used to be a fleet market, but you could find good stuff. The new one that opened (been there last night) on Boylston is ok, the best one in my opinion is the Needham one which is always packed during lunch hour.

Right now they got tons of new stock from Barneys, you can find some decent basics and even a good coat at a markdown.

The Vault stuff does have some nice labels, like Brioni, but c'mon most of that stuff is so odd to begin with that you really need to find something that is nice. I found a Brioni shirt that I got myself thinking, jesus, it's Brioni and its cheap, but otherwise the shirt looked so funky that I would have never taken a look at it if it was not Brioni. A bright pink think sweater in XXL size.

 

[amerikajinda]

Originally Posted by antirabbit

...worse than a Marshalls in North Dakota.

 

[texas_jack]

the DC ones have provided me with a lot of nice clothing. Picked up some Brioni pants yesterday for $40. I'd be sad if they went.