No surprise: Filene's Basement has filed for Ch 11 bankruptcy. A few posts ago I wrote about how the off-price retailing model was never meant to be a mass-market business. Whatever emerges from this Ch 11 bankruptcy, it won't be the treasure-hunt off-price model of the past.
Henri Bendel, the luxe NYC specialty retailer, is leaving apparel behind to concentrate on higher-profit accessories and cosmetics. Not sure Bendel's will make it with such a limited focus (and in a city where shoppers have so many upscale choices).
Where will the wheel of retailing turn next?