Filene's Basement Closing 11 Stores

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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.