Filene’s Basement to close: Are T.J.Maxx and Marshall’s next? I hope not…
To all the bargain hunters out there: It might be time to take a trip to your local Marshall’s or T.J.Maxx. The discount retail market lost an industry pioneer last week when Syms Corp and its subsidiary Filene’s Basement filed for bankruptcy and announced the closing of all Filene’s Basement locations by January 2012. “We have been faced with increased competition from large department stores that now offer the same brands as our stores at similar discounts,” says Syms Corp CEO Marcy Syms in a prepared statement. Indeed, consumers have been tightening their belts, and stores have taken notice, offering steep discounts that would have been unimaginable just a few years ago. With the loss of Filene’s Basement, future brides will also miss out on the famous Running of the Brides, which was hosted bi-annually by Filene’s Basement stores around the United States. We can only hope that the Filene’s Basement closings don’t represent the state of our hometown discount stores. (Below is a neat video by Improv Everywhere featuring the Union Square location of Filene’s Basement.)
Holiday “pop-up” shops coming to The Shops at Grand Avenue
For the first time ever, Fred Boutique will be operating a “holiday pop-up shop” out of The Shops at Grand Avenue. Scheduled to open Nov. 16, the outpost will have limited shopping hours on Wednesdays through Fridays from 10 a.m. to 3 p.m. It is located on the second floor of the Plankinton Building overlooking the former Linens N Things space. According to Grand Avenue Marketing & Leasing Director Tracy Korpela, other pop-ups include Stone Creek Coffee, which will be setting up a cart in the Plankinton Rotunda, and Extreme Toys.
Marcus Corp. unveils new video of The Corners
Just two weeks ago I included a reminder about the Von Maur-anchored mall that was in the works for the popular Goerke’s Corners intersection in Brookfield. The Marcus Corp. has now released more detailed plans and a video of the proposed development, as reported by the Business Journal. What remains to be seen is whether the town of Brookfield will pitch-in for the development with up to $30 million coming from tax increment financing. Either way, the project looks promising, and, from what the video shows, I cannot wait to check out The Corners.
Calling all outdoorsmen (and women)
Mark your calendars: The North Face will open at Brookfield Square Nov. 18. This will be the popular outdoor retailer’s second location in Wisconsin in addition to Madison. My guess is that there will be some great deals on opening day, so stay tuned!
Filene’s Basement photo from boston.com.
