Filene's Basement store to close |
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Mon, 29 Jan 2007 23:17
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BOSTON (AFX) - Filene's Basement confirmed Monday it would temporarily close its flagship store downtown at the end of the summer.Company officials said they planned to return to their current location at 426 Washington St. -- where they have done business since 1908 -- after renovations on the building were complete.'As a historic flagship store in Downtown Crossing, we fully understand the importance of our presence in Boston. After exhausting all possible scenarios we have been advised that it is not safe to stay in our current location while a complex redevelopment is under way,' Filene's Basement president Mark Shulman said. 'We will be working with the city to explore all options, including a possible temporary location.'Filene's Basement has eight other branches in suburban Boston among a total of 31 stores in the eastern United States. The chain is own by Retail Ventures Inc. of Columbus, Ohio.Store officials said they would move part of the basement store to the first floor of the Filene's building to allow renovations to get under way before the store shuts its doors in late summer or early fall.Last summer, Vornado Realty Trust, a New Jersey-based real estate developer, bought the building from Federated Department Stores Inc., saying it would redevelop and expand the 656,000-square-foot property for office and retail use.Mayor Thomas Menino said the closure of Filene's Basement has him worried about the business climate at Downtown Crossing, Boston's traditional shopping district.Filene's -- a separate business entity from Filene's Basement -- permanently vacated the building shortly after Christmas.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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