New York City Sy Syms, founder and chairman of the SYMS Corp. discount clothing chain, died of heart failure Tuesday in New York. He was 83.
Syms founded his apparel business in 1959 in New York's financial district as a discount retailer of off-price men's clothes. By 1983, he had expanded the business to 11 stores and taken the company public. It eventually grew to 30 stores in 13 states.
The company expanded even further in June, when it bought the Filene's Basement chain and expanded its presence to 52 stores in all.
Syms was CEO of the company until 1998, when his daughter Marcy took over.
He was survived by his wife; four children; two stepchildren; 10 grandchildren; and three sisters.