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An affiliate of The Men's Warehouse (NYSE: MW) has agreed to pay $67 million for 20 of the leases to the 25 Filene's Basement Stores, and will also receive all of the company's inventory, and the rights to its brand."We are extremely pleased with the outcome of the auction," Scott Rusczyk, president of FB Acquisition, said in a statement. "If ratified by the court, the Men's Wearhouse bid allows for the continuation of one of the industry's most iconic off-price brands under the aegis of a pre-eminent specialty retailer.
Even though it's been a long time coming, it's still a sad day for bargain shoppers everywhere: Filene's Basement 
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