Content about Syms Corp.

November 3, 2011

Syms Corp. and its Filene’s Basement subsidiary said Wednesday that they have filed for Chapter 11 bankruptcy and will liquidate all stores and assets over the coming several months.

SECAUCUS, N.J. — Syms Corp. and its Filene’s Basement subsidiary said Wednesday that they have filed for Chapter 11 bankruptcy and will liquidate all stores and assets over the coming several months. Syms acquired the century-old Filene’s out of bankruptcy in 2009 for $63 million.

May 31, 2011

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.

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.

May 23, 2011

Discount retailer Syms Corp. was urged by a shareholder to stem losses in its clothing business and sell some of the real estate holdings accumulated by late founder Sy Syms.

NEW YORK — Discount retailer Syms Corp. was urged by a shareholder to stem losses in its clothing business and sell some of the real estate holdings accumulated by late founder Sy Syms.

According to a Friday report by Bloomberg, Capstone Equities Capital Management LP sent a letter to Syms directors and CEO Marcy Syms on Thursday advocating asset sales, share buybacks and other steps to “enhance shareholder value.”