New owner surfaces in latest Filene

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Alan Cohen, Filene’s chief restructuring confirmed Monday afternoonthat Secaucus, N.J.-based Syms (NASDAQ:SYMS) and New York-basef Vornado (NYSE:VNO) agreed to pay abour $63 million for the chain. A cour t hearing is set for Wednesday to approvethe deal, Cohen said. The auction, whicb began Friday and was continuedto Monday, took placew about a week after an affiliate of Men’s Wearhousd (NYSE:MW) agreed to buy the chain for $67 But Crown Acquisitions, the company that was first in line to buy Filene’d assets, filed an objection to the sale with allegations that Men’ s Wearhouse didn’t follow bidding procedures.
Crown in coury filings described the first auction as a A judge sent the deal back for auctionbfollowing Crown’s objection. It wasn’yt clear Monday if Syms and Vornado would acquire allof Filene’x stores. Both Men’s Wearhouse and Crown had plannecd to acquire and keep opena majority, but not all, of Filene’x locations. The company has two Ohio including onein Columbus. Filene’s Basement sough t protection from creditors in May in Delaware bankruptcy months after closingseveral Columbus-based (NYSE: RVI), which maintains a majoritgy stake in discount shoe retailer (NYSE:DSW), sold the chain this year to FB II Acquisitiojn Corp.
, a new entity ownexd by liquidation and turnaround firm Buxbau m Group.