| In August 1999, Filene's Basement Corp. and its wholly owned subsidiary, Filene's Basement, Inc. (Filene's), filed petitions for relief under Chapter 11 of the United States Bankruptcy Code. In February 2000, Filene's entered into an agreement to sell all of its assets to Base Acquisition Corp., a wholly owned subsidiary of Value City Department Stores. Filene's Basement Corp., through Filene's, operated a chain of specialty stores offering assortments of fashionable, branded, and private label merchandise, as of February 8, 2000. It offered branded apparel, home goods, accessories, and retail stocks. The company operated 14 Filene's Basement and eight Aisle 3 stores primarily in the northeast and midwest regions of the United States. |
