Introduction

Filene’s Basement, the “value-price” clothing retailer with stores throughout the United States, filed for bankruptcy on May 4, 2009 in Delaware.  According to its Affidavit in Support of First Day Motions (the “Affidavit”),  Filene’s Basement began 90 years ago as one of the first “off-price” stores where retailers and manufacturers could sell merchandise at…