Syms Corp. Chairman Sy Syms died of heart failure Tuesday. He was 83. Syms founded the off-price retailer in 1959 and took it public in 1983.
He handed over the CEO reins to his daughter Marcy Syms in 1998.
“My father had an uncanny talent that made him sensitive to the needs of his customers and the changes in the marketplace,” said Marcy Syms. “He knew the time was right for off-price retailing. Certainly he was ahead of his time.”
The original Syms Clothing chain has 30 stores in 13 states. In June, Syms acquired fellow off-price retailer Filene's Basement out of bankruptcy, bringing the company's overall total to 52 stores.
