Filene's Basement to close its Md. stores, lay off 68

Filene's Basement warned state regulators Monday that it expected to close its Baltimore and Rockville stores in January, laying off 68 people.

The discount clothing retailer and its parent, Syms Corp., filed for bankruptcy protection last week and asked for court approval to liquidate their assets.

Filene's Basement told the state Department of Labor, Licensing and Regulation that layoffs would affect 31 employees at its Inner Harbor store and 37 employees in Rockville. Both locations are expected to shut down Jan. 9.

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      Syms Corp., the owner of Filene’s Basement, announced today that both companies have filed for bankruptcy protection under Chapter 11. Rather than reorganize its finances and continue operating, though, Syms said it concluded that liquidation was the best move for shareholders.