Syms and Filene's Basement unit get final access to cash collateral

By Caroline Salls

Pittsburgh, Nov. 23 - Syms Corp. and wholly owned subsidiary Filene's Basement, LLC received final court approval to use the cash collateral of their pre-bankruptcy secured parties, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The cash collateral will be used to fund the companies' operations.

Syms, a Secaucus, N.J.-based off-price clothing retailer, filed for bankruptcy on Nov. 2, along with wholly owned subsidiary Filene's Basement, LLC. The joint Chapter 11 case number is 11-13511.

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