Filene’s Next to Go?

Crain’s reports:

Time may be running out for brides to dash to Filene’s Basement. The off-price retailer, famous for its Running of the Brides discount wedding dress events, is on the block. In a filing with the Securities and Exchange Commission Friday, the chain’s Columbus, Ohio-based parent Retail Ventures Inc. said efforts to cut costs “is not likely to lead to sustainable operations for Filene’s basement.”

In January, Retail Ventures had announced the closing of 11 underperforming Filene’s stores, including one in Levittown, N.Y. Yet performance at the remaining 25 locations, which include four in New York City, “has continued to deteriorate significantly since that time,” according to the filing. Retail Ventures, which also owns footwear chain DSW Inc., said it will delay the filing of its annual results with the SEC.

Similar Posts

  • Latest New School Construction Update

    Next week (June 18 to June 22), Mechanical equipment and work will continue at the 17th and 18th floor levels. The superstructure concrete work will be completed on the building by the end of the month. Deliveries for the internal systems of the building have been ongoing and will continue, although they should not greatly affect the flow of pedestrian and road traffic. The crane on site is scheduled for demobilization on Saturday, the 25th.

    The following week (June 25 to June 29), we will be working on the machine room levels on the 17th and 18th floors. Deliveries for the internal systems of the building have been ongoing and will continue, although they should not greatly affect the flow of pedestrian and road traffic.

    This weekend the site will be open on Saturday, June 16th for superstructure related activities between the work hours of 7AM and 5PM as permitted by the City. To control noise levels within the site, work activities will be limited to working on the mechanical systems of the building and using the crane and equipment to support activities. Safety horns are used, and required by law, to coordinate lifting with the crane and to alert the workers of the danger overhead. We have directed the operators to limit the use of horns to one short sounding and to use the crane later in the day so as to avoid any excess noise.

  • Union Sq. Traffic Will Be Rerouted

    Here’s the pretty big news about upcoming traffic redesign and new pedestrian areas in and around Union Square:

    A plan to reshuffle traffic around Union Square and add a new pedestrian plaza nearby has been given the final green light after months of contentious debate.

    Community Board 5 voted overwhelmingly in favor of the Department of Transportation’s plan for the square despite continuing cries from a group of vocal residents who say the changes will only make traffic in the congested neighborhood worse.

    The revised plan, which the DOT will begin implementing in the coming months, will restrict traffic to one-way westbound on E. 17th Street between Broadway and Park Avenue South.

    Broadway will be narrowed to one lane from 17th to 23rd streets, and a new pedestrian plaza will be added to the east side of Broadway between 17th and 18th streets. The exact design of the plaza, including whether or not it will have tables and chairs like Herald Square and Times Square, is still up for debate.

    To improve traffic on Park Avenue South, southbound cars will be prohibited from turning left at 18th Street, while northbound cars will be banned from turning left onto 19th and 23rd streets, among other restrictions.

    Numerous dedicated turning lanes will also be added, in addition to new protected bike lanes and revised parking schemes.

    The DOT’s Ryan Russo said the department hopes the plan will make the stretch more pedestrian-friendly, less chaotic and cut accidents in half.

    Nonetheless, a handful of residents continued to complain that they’ve been left out of the decision process and haven’t been given enough time to consider the changes.

    “I think this plan is being rushed to the extreme and rammed down neighbors’ throats,” lawyer Milton Meyers, 63, a 20-year resident of 18th Street and Irving Place, told the standing room-only crowd at the CB5 meeting Thursday.

    Artist Silvia Kolbowski, who has collected more than 300 neighborhood signatures opposing the plan, accused the DOT of caring less about improving safety than pushing through another pedestrian plaza as part of a larger city plan.

    “If the issue was safety at the crossings, then surely this plan is overblown,” said Kolbowski, 56, who has lived on East 18th Street at Park Avenue South for a decade. The plan, she said, will create “nothing but chaos.”

    While such opinions were overwhelming when the idea was first presented back in April, opposition has faded as the DOT has made revisions, including dropping an initial plan to completely shut down Broadway to traffic between E. 17th to 18th streets at certain times of the day.

    Numerous organizations, including representatives from New York University, the Union Square Green Market, the Union Square Partnership, and Transportation Alternatives have now joined in support of the plan.

    “This neighborhood has a chance to have some significant safety improvements that other neighborhoods are clamoring for,” dance instructor, Detta Ahl, 31, who lives in Morningside Heights but frequently cycles in the area, told the audience.

    The plan was ultimately adopted on a ‘pilot’ basis, with a provision that the DOT return in three and six months after implementation to report on the results.