Syms Corp to layoff 23 workers at 1340 Swedesford Road, PA store


Bankrupt Syms Corp./Filene’s Basement is unloading its inventory, along with its workers, as it closes its 46 stores, including one in Tredyffrin.

Syms has notified the Pennsylvania Department of Labor and Industry of its intent to lay off its 23 workers at its 1340 Swedesford Road store effective Jan. 9, 2012.

The Worker Adjustment and Retraining Notification Act, or WARN Act, requires employers to officially notify the state of upcoming layoffs or facility shutdowns whenever they involve 50 or more employees.

Discount retailer Syms Corp. and its subsidiary Filene’s Basement filed for bankruptcy protection in early November and announced plans to close all stores.

On Wednesday, the discount retailer started its going-out-of-business sale. Discounts up to 30 percent off the lowest ticketed price are being offered on all merchandise at every location, the retailer said.

Companywide, Sims/Filene’s has about $100 million worth of inventory in apparel for men, women and children.

In addition, the stores will be selling all store furniture, fixtures and equipment, including shelving, apparel racks, lighting, chairs, tables and more, the company said in a prepared statement.

Both Syms and Filene’s Basement gift cards will be honored throughout the sale.

All sales made from now on are final.

Returns made on any merchandise purchased prior to Wednesday will be handled in compliance with the existing return policy for Syms and Filene’s Basement, the company said.


Syms Corp. was founded by Sy Syms in 1959.

Filene’s Basement traces its roots back to 1909 and founder William Filene. Syms acquired assets of Filene’s Basement, which had filed for bankruptcy in 2009.

“My father used to say ‘an educated consumer is our best customer.’ As we mark the end of an era for these two retail chains, I encourage all of our loyal customers to take advantage of this one-time opportunity to find exceptional discounts on all merchandise as the holiday season begins,” said Marcy Syms, CEO.

The going-out-of-business sales are being managed via a joint venture between Gordon Brothers Group LLC and Hilco Merchant Resources LLC.


Source: Daily Local