Many people who grew up in this region have vivid memories of trudging a few steps behind their mothers as they searched the endless racks of the stores for deals, or of the ubiquitous presence of pedestrians carrying Filene’s Basement’s trademark “I just got a bargain!’’ bags in the area. Now, longtime customers are complaining that, instead of offering designer clothes at cut-rate prices, the Basement has become just another discount store.
The company needs to right the course, and fast, at that. If not, it will go the way of other retailers, where it is liquidated... but, that probably wouldn't be so bad, as the company sits on a mound of valuable real estate.
Disclosure: Long Syms. This is not advice of any kind. Always do a ton of your own research in regard to anything that I say, do, write, or so much as even think about.