It's a sad day for bargain hunting brides. Filene's Basement, a subsidiary of discount retailer Syms Corp., has filed for Chapter 11 bankruptcy protection and plans to liquidate operations. This is the third time Filene's has gone through bankruptcy and it appears to be the final hurrah. (Read a full article of the announcement at
ChicagoTribune.com.)
It is no coincidence the bankruptcy was announced just in time for the upcoming holiday season. There really seems like no better time to liquidate inventory. The word is that liquidation will run through January, 2012 and store closings will occur when the merchandise is depleted.
What this ultimately means for brides, and future brides-to-be, is that the the famous "Running of the Brides" events are a thing of the past.
While this event was something I was never compelled to attend, many of our bees have and have shared amazing stories of their experiences. I loved watching the news clips showing the initial rush of the crowd and seeing all the people camped out in front of the Chicago store as I walked to my office from the train. It was fun hearing stories of ladies who gathered their bridal party together, made matching shirts, and developed a strategy to snatch up the most dresses and find the best try-on location. So many women dedicated to finding that perfect dress at an amazing price - especially during these troubled economic times. It appears that is all over now. *tear*
There is currently no word if there will be a final Running event to clear out any remaining bridal inventory. For anyone who was hoping to attend an event at some point, I would definitely keep your ears open! You never know what the retailer has planned for its final days.
Does this news impact you in any way? Were you hoping to be a Running Bride yourself someday?
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