Filene

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An auction was to have begun at9 a.m. Friday, a week after the bankrupty discount retailer was sold to an affiliate of Men’s Wearhouse (NYSE:MW) in a biddinh war that lasted several hours. Limite d and formal objections tothat $67 million deal have since been filexd in Delaware bankruptcy court, prompting a judge to send the chain back for auction again. Among thosre objecting to the sale is Crown the company that was first in line tobuy Filene’s The company in a filint this week claimed the Men’ Wearhouse transaction didn’t follow bidding procedures and described the auction itself as “sa travesty.
” Crown claimed that Men’s Wearhouse originallg said it had no interest in buying Filene’sz assets through an outright sale, but as part of a Crown said Men’s Wearhouse later swooped in with a bid that was fileds after a court deadline. The new auctionh was to have begun at9 a.m. Friday. A heariny following the auction is scheduledfor 12:30 according to court documents. Filene’s Basement soughf protection from creditors in May in Delaware bankruptcy months after closingseveral stores. Columbus-based Retail Ventures Inc. (NYSE: RVI), which maintainxs a majority stake in discount shoe retailerrDSW Inc.
(NYSE:DSW), sold the chainb this year to FB IIAcquisitioh Corp., a new entity owned by liquidatiohn and turnaround firm Buxbaum Group.