Filene’s Basement assets, including Running of the Brides, attracting bidders for auction
Bankrupt Filene’s Basement and its parent company, Syms Corp., have attracted a number of bids for their intellectual properties -- including the Running of the Brides gown sale -- according to Hilco Streambank, which is charged with auctioning off the defunct retailers’ assets.
The creditors committee and others involved in the bankruptcy process are reviewing the offers and an auction is tentatively scheduled for Thursday in New York. Jack Hazan, of Hilco Streambank, based in Newton, said Filene’s Basement and Syms have received “a number of bids” from “different types of firms,” but he declined to provide further details.
Running of the Brides, an annual sale during which brides-to-be madly dashed to claim deeply-discounted wedding gowns, is considered one of more attractive assets of Filene’s Basement, according to industry analysts. The sale of intellectual property rights would mark the last stages for the unwinding of the historic chain, which traces its roots to 1909.Jenn Abelson can be reached at firstname.lastname@example.org. Follow her on Twitter @jennabelson.