Q:
Are the Syms Department Stores Still in Business?
A:
Quick Answer
Syms announced its bankruptcy protection filing and the closure of all its stores in November 2011; all company assets were liquidated and all Syms locations were closed by the end of January 2012. This closure included all Syms and Filene's Closet stores.
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Syms blamed increased competition in discount clothing retail for its bankruptcy and closure. It also cited reduced merchandise stock due to high-end clothing retailers opening their own branded outlet stores instead of selling through third-party discount retailers such as Syms.
Filene's Closet filed for bankruptcy twice before its sale to Syms. Syms purchased the chain at auction in 2009.
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