August 24, 1999 |
Filene's Basement Corp., a discount clothing chain, filed for federal bankruptcy protection on Monday. Separately, T. Eaton Co., Canada's oldest department store chain, said on Monday that it applied for appointment of an interim receiver, as the death knell sounded for what was once one of the country's leading retailers. Eaton wants to buy time through the appointment of the interim receiver to allow discussions with an unidentified potential buyer.
February 12, 1999 |
Federated Department Stores Inc., the company behind the Macy's and Bloomingdale's chains, agreed Thursday to acquire Fingerhut Cos. for about $1.5 billion to speed its expansion on the Internet. Federated said it will pay $25 cash for each diluted share, or $1.5 billion, for Fingerhut, which sells household and general merchandise through catalogs and Web sites. It will also take on $200 million in debt. Federated, the third-largest U.S.