April 6, 2018
Two bidders for Filene's Basement, which is currently being operated under Chapter 11 bankruptcy protection, have forced the troubled retailer to reopen its auction, having objected to the June 5 announcement that Men's Warehouse had won.
A judge sided with Crown FB and Syms discount stores, which said Men's Warehouse did not meet auction requirements. Filene's Basement had announced on June 5 that Men's Warehouse won with a $67 million bid.
The Associate Press reports that the auction was rescheduled to resume June 12 in Wilmington, Del., and could not confirm whether or not Men's Warehouse would rebid.
Filene's Basement filed for bankruptcy last month.
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