Following the news of Filene's Basement going out of business, we anticipated some serious liquidation prices on the designer merchandise. As is the case with many going out of business sales, we found the Filene's merchandise to be sparse and even more expensive than a normal markdown.
The European "Vault" merchandise was an additional 20% off, but there was hardly anything to choose from. At Union square we saw a couple racks of Missoni (mostly horrible corduroy pants), and a few racks of Valentino ready-to-wear separates and dresses. Most of the items were still in the $400 to $500 range so the 20% discount wasn’t all that helpful. (If you look at our past stories, you will see a range of better merchandise that is expensive.)
The most organized and well-stocked section was designer accessories, which can be found in glass cases. A Gucci monogram tote with their signature red and green stripe detailing was still $1389, although the pricing for the belts were much better. Celine and Prada belts were around $200, and there were lots of different styles of Dolce & Gabbana belts for $89. Ferragamo and Pucci scarf fans will fare best, with many silk scarves available between $59 and $119. These accessories were also an additional 20% off.
A trip uptown, to the store's Broadway location, fared no better. There were hardly any designer duds left over except for an unattractive Missoni jacket that was still $600. If you are willing to sift through the racks we would suggest trying the Union Square location. The store's last email blast announced an additional markdown but we would suggest saving your cab fare and allocation the funds towards some more meaningful shopping.