Author Topic: SYMS AND FILENES FILES BANKRUPTCY LIQUIDATES STORES (Read 27972 times)

Cbs · « **Reply #20 on:** November 05, 2011, 08:14:19 PM »

Quote from: Dan on November 02, 2011, 01:18:34 PM

I once got a $900 suit at Macy's Beverly Center/LA for ~$69 after promos and coupons. Great store.

+1 ive got a great deal whats , not as good but also brought it from $550 to $150 with promos and coupons

Yeki89 · « **Reply #21 on:** November 05, 2011, 08:26:55 PM »

i was in syms (paramus) this friday.
they didnt really have major sales
only 20% off sweaters
and the like
i happened to have found a zegna jacket (missing the pants) originally $1100 for $500
less 75% which made it $125. Since i bought a lot of items i sweet talked the lady into giving me an extra 5%...
then i pulled out a 25% coupon!!!

on the bottom it said total saved $1560

but liquidation did not yet start, can't wait until it does

AsherO · « **Reply #22 on:** November 05, 2011, 08:28:38 PM »

Quote from: yeki89 on November 05, 2011, 08:26:55 PM

i was in syms (paramus) this friday.
they didnt really have major sales
only 20% off sweaters
and the like
i happened to have found a zegna jacket (missing the pants) originally $1100 for $500
less 75% which made it $125. Since i bought a lot of items i sweet talked the lady into giving me an extra 5%...
then i pulled out a 25% coupon!!!

on the bottom it said total saved $1560

but liquidation did not yet start, can't wait until it does

For all we know they're holding off liquidation until after the holiday season.

Yeki89 · « **Reply #23 on:** November 05, 2011, 08:29:25 PM »

possible

Ergel · « **Reply #24 on:** November 05, 2011, 08:33:27 PM »

Quote from: AsherO on November 05, 2011, 08:28:38 PM

For all we know they're holding off liquidation until after the holiday season.

Quote from: WallStreetJournal

Syms said it will begin liquidating in coming weeks. Its stores are expected to close in January.

AsherO · « **Reply #25 on:** November 05, 2011, 08:36:22 PM »

Quote from: yeki89 on November 05, 2011, 08:29:25 PM

possible

I was just telling someone that (IME from the Borders liquidation, I stopped by a few times) with these kinds of things it's a timing game. Come too early and there's 90% of inventory left @ 10% off. Come too late and there's 10% of inventory left (stuff nobody wants) at 90% off.

I'm hoping it's eCommerce and not the general economy that killed all these retail businesses (Circuit City, Virgin Megastores, Borders, and others).

Quote from: Ergel on November 05, 2011, 08:33:27 PM

Quote from: WSJ
Syms said it will begin liquidating in coming weeks. Its stores are expected to close in January.

But that doesn't mean they'll be starting anytime soon.

eliteflyer · « **Reply #26 on:** November 05, 2011, 09:19:04 PM »

Syms is an interesting case with respect to bankruptcy. According to the WSJ article, the main problem was with manufacturers that have cut production and monitored overstock more closely. This leaves less merchandise for discounters like Syms and Filene's to sell.

Incidentally, Dippin Dots has also filed for Chapter 11 bankruptcy protection.

Cholentfresser · « **Reply #27 on:** November 05, 2011, 10:54:46 PM »

a friend of mine was @ syms on friday. he said that there weren't any special sales going on, but the workers there told him that the liquidation sales are starting in 2 weeks.

mercaz1 · « **Reply #28 on:** November 07, 2011, 11:25:13 AM »

do you think someone wil buy them out and reopen them even just for the brand recognition it might be worth it like what happened to national wholesale liquidators

AsherO · « **Reply #29 on:** November 07, 2011, 11:32:09 AM »

Quote from: mercaz1 on November 07, 2011, 11:25:13 AM

do you think someone wil buy them out and reopen them even just for the brand recognition it might be worth it like what happened to national wholesale liquidators

TigerDirect bought CircuitCity, B&N bought Border's data, etc.

In a liquidation, not just merchandise is an asset.