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Not Enough Educated Consumers Were Their Customers
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It's a little stunning, really, that Syms and Filene's Basement are going out of business in a Chapter 11 move. The chains were the go-to place for good clothing bargains for decades. When I was young and had to wear suits for work -- that was a long time ago -- Syms was a go-to place for designer models at much, much lower prices than at other stores, and the longer the stuff was on the rack, the cheaper it got. Filene's Basement wasn't as good, but the original in Boston, back before it was a chain, was a great place for rock-bottom prices on quality clothes. You'd think a deep discounter would be okay in a weak economy, but I guess not. (Boston Herald; Thanks to Jeff Katz at WXKS (Talk 1200)/Boston for the link)
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