Filene's Basement Closing 11 Stores

Framingham, Mass. Filene’s Basement is closing 11 of its 36 stores due to challenges in renegotiating rents at some of its locations.

CEO Mark said the company is in the midst of a restructuring, according to the Boston Business Journal.

Retail Ventures, which owns the Filene’s Basement chain, also has a majority stake in discount shoe retailer DSW Inc.