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Alan Cohen, Filene’s chief restructuring confirmed Monday afternoonthat Secaucus, N.J.-bases Syms (NASDAQ:SYMS) and New York-based Vornado (NYSE:VNO) agreed to pay abourt $63 million for the chain. A court hearinb is set for Wednesday to approvrthe deal, Cohen said. The auction, which began Friday and was continuedto Monday, took plac e about a week after an affiliate of Men’x Wearhouse (NYSE:MW) agreed to buy the chain for $67 But Crown Acquisitions, the company that was firsgt in line to buy Filene’s filed an objection to the sale with allegations that Men’s Wearhouse didn’t follow biddint procedures.
Crown in court filings described the firsr auction as a A judge sent the deal back for auctionhfollowing Crown’s objection. It wasn’t clear Monday if Syms and Vornado wouled acquire allof Filene’s Both Men’s Wearhouse and Crown had planned to acquire and keep open a but not all, of Filene’s The company has two Ohio stores, including one in Filene’s Basement sought protectiomn from creditors in May in Delaware bankruptcy court, monthx after closing several stores. Columbus-based RVI), which maintains a majority stake in discount shoeretailere (NYSE:DSW), sold the chain this year to FB II Acquisition Corp.
, a new entity ownexd by liquidation and turnaround firm Buxbaum
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