Syms considers possible sale
SECAUCUS, N.J. — Syms Corp. said last week it is mulling selling itself and other strategic alternatives as the company continues to struggle after acquiring Filene’s Basement in 2009.
The off-price retailer, which bought Filene’s out of bankruptcy for $62.4 million in 2Q 2009, said its board is currently evaluating its options. It reported a loss at the end of its fiscal year in February, and losses had widened as of earlier this month.
Rothschild Inc. is serving as advisor in the evaluation process. Syms said it will not comment further until either a transaction is approved or the review process concludes.