But the acquisition could not help the struggling company succeed in a poor economy and faced with increased competition from large department stores .
In 2009 , the company acquired the bankrupt Filene 's Basement low - cost chain for $62.4 million .
The acquisition could not help the struggling company succeed in a poor economy and faced with increased competition from large department stores .
In 2009 , the company acquired the bankrupt Filene 's Basement low - cost chain for $62.4 million .