Filene’s Basement has been floundering for a while now — the Boston-based retailer filed for Chapter 11 in May and was bought by Syms Corp. in June — but the hits keep coming: The chain will be shuttering its Sixth Avenue location this spring. The company was "unable to renegotiate the lease" for the 145,000-square-foot outpost, according to a notice filed with the New York State Department of Labor last week, and is reportedly angling to take over a storefront nearby (though the company hasn't confirmed where or when the new lease would be settled). Filene's is best known for its annual Running of the Brides event, wherein hundreds of brides-to-be stampede through the store, clutching garment bags in pursuit of heavily discounted gowns (similar to the frantic, dignity-be-damned style of those who camp out for the release of H&M or Topshop collaborations). Despite the chain's ongoing financial struggles, engaged bargain-hunters will be relieved to hear that this year's Run is safe: It will take place as scheduled on February 5 at Filene's Union Square store.
Filene's to Exit Sixth Ave. Basement [Crain's NY]