New owner surfaces in latest Filene

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Alan Cohen, Filene’s chief restructuring officer, confirmed Monday afternoomn that Secaucus, N.J.-based Syms (NASDAQ:SYMS) and New York-based Vornadoo (NYSE:VNO) agreed to pay about $63 million for the chain. A couryt hearing is set for Wednesday to approve the Cohen said. The auction, which begann Friday and was continued to took place about a week after an affiliat eof Men’s Wearhouse (NYSE:MW) agreed to buy the chain for $67 million. But Crown Acquisitions, the companu that was first in line tobuy Filene’sx assets, filed an objectiomn to the sale with allegations that Men’s Wearhouse didn’t follow bidding procedures.
Crown in court filings described the first auctio asa “travesty.” A judge sent the deal back for auctionh following Crown’s objection. It wasn’t clearf Monday if Syms and Vornado would acquirw allof Filene’s stores. Both Men’s Wearhouse and Crownb had planned to acquire and keep open a butnot all, of Filene’s locations. The compan has two Ohio stores, including one in Filene’s Basement sought protection from creditors in May in Delawarewbankruptcy court, months after closing severakl stores. Columbus-based (NYSE: RVI), which maintains a majoritg stake in discount shoeretailer (NYSE:DSW), sold the chain this year to FB II Acquisition Corp.
, a new entity ownefd by liquidation and turnaround firm Buxbaum Group.