Syms, Vornado to buy Filene’s Basement

NEW YORK - A Filene’s Basement executive says discount retailer Syms Corp. and Vornado Realty Trust have won an auction for the discount chain.

The price tag was $62.4 million, according to Alan Cohen, Filene’s chief restructuring officer. A court hearing on Wednesday should make it official, he says.

Filene’s is operating under Chapter 11 bankruptcy protection.

Earlier in the auction process, Men’s Wearhouse was announced as the buyer. But other bidders objected to the result last week and accused Men’s Wearhouse of failing to meet the auction requirements. A judge directed Burlington, Mass.-based Filene’s last week to reopen the process.

Men’s Wearhouse did not immediately return a call for comment.