The Filene's Basement in Chelsea is closing and cleaning shop by marking down merchandise from 70% to 90% off. Signs in the store contend that the store lost its lease and will be closing on March 6th.
Merchandise is already running very low and a store manager said that the closing date has been moved up to February 26. He also told us that close-out merchandise from their 79th street & Broadway location will be added to the inventory daily.
So what deals are to be found? Um. Not much quality, that's for sure. We did, however, find a few racks of Armani reduced an extra 75%. Slacks that once retailed for $500 are now $30, a straight-off-the-runway looking rouched blazer was $12,600 at retail but is now $650 and a velvet blazer started at $3,700 at retail but is now $200.
Overall, the merchandise is lackluster but we are sure that those who love to dig can uncover some real jewels.