Probably not. In fact, while Filene's is planning to sell 17 of its 25 stores for $22 million to Crown Acquisitions, it's been reported that Crown intends on keeping the stores open under the Filene's name, selling the same wares. Phew -- we were wondering where the bargain brides were going to shop!
However, this isn't exactly a done deal -- bankruptcy law requires Filene's to sell the stores in an auction, so there's always a chance (albeit an unlikely one) that Crown and its partner, Chetrit Group, could be outbid. (Paging "The Donald!")
This shouldn't come as a surprise to anyone who's been following the news on Filene's. Unable to keep up with the competition it faced from stores like T.J. Maxx and Loehmann's, the former owner of the chain sold Filene's just a few weeks ago to Buxbaum Group, a retailer. And that occurred just a few months after 11 out of 36 stores were closed in the hopes of recouping the losses of the last few quarters.