Syms

Syms

SYMS Corp was an off-price retail clothing store chain, founded by Sy Syms in 1958. Its headquarters was based in Secaucus, New Jersey where it was incorporated in 1983. SYMS also owned Filene’s Basement, which it acquired in June, 2009. For over 50 years, SYMS gave “Educated Consumers” real bargains on real designer clothes. Anyone living in the New York metropolitan area was aware of not only the stores, but the television faces and radio voices of father and daughter, Sy and Marcy Syms.

On November 2, 2011, SYMS and Filene’s Basement, collectively filed for bankruptcy protection. All SYMS and Filene’s Basement stores were closed at the end of December, 2011. The Company succumbed to the failing economy and its inability to breathe new life into its acquisition, Filene’s Basement after valiant efforts to save both the SYMS and Filene’s Basement brands.

Prior to restructuring, the Company and its subsidiary, Filene’s Basement collectively owned and operated a chain of 55 “off-price” retail stores in 16 states, which were located throughout the Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest; the Company employed approximately 3,800 full and part-time people. Each SYMS and Filene’s Basement store offered a broad range of first quality, in-season merchandise, bearing nationally recognized designer or brand-name labels for men, women and children, at prices substantially lower than those generally found in department and specialty stores.

In October, 1983, SYMS Corp became a public company, traded on the New York Stock Exchange (sym).