UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of Report (Date of Earliest Event Reported):   June 5, 2009


                                    Syms Corp
                   ------------------------------------------
             (Exact name of registrant as specified in its charter)


      New Jersey                 001-8546                   22-2465228
- -----------------------   ----------------------    ----------------------------
    (State or other             (Commission              (I.R.S. Employer
     jurisdiction of             File Number)            Identification No.)
     incorporation)


     Syms Way, Secaucus, New Jersey                           07094
- -----------------------------------------------      ---------------------------
   (Address of principal executive offices)                 (Zip Code)


               Registrant's telephone number, including area code
                                 (201) 902-9600


                                 Not Applicable
           -----------------------------------------------------------
           Former name or former address, if changed since last report


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following   provisions  (see  General  Instruction  A.2.  below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))




Item 1.01.   Entry into a Definitive Material Agreement

On June 5, 2009, Syms Corp.  ("Syms") entered into a Loan and Security Agreement
(the "Credit  Agreement")  with Israel Discount Bank of New York (the "Lender").
Pursuant to the Credit  Agreement,  Syms has  obtained a  $40,000,000  revolving
credit facility (the "Credit  Facility") from the Lender. The full amount of the
Credit  Facility is available  for loans and there is a $2,000,000  sublimit for
standby and documentary letters of credit. The Credit Facility is secured by all
personal  property of Syms and requires a negative  pledge on the real estate of
Syms.  Availability  under the  Credit  Facility  is based on a  borrowing  base
consisting of certain  inventory,  credit card  receivables and cash collateral.
The Credit  Facility will be available  until  December 4, 2010,  subject to (i)
automatic  renewal  for  successive   periods  of  one  year  and  (ii)  earlier
termination if the Lender determines that the results of any field  examination,
appraisal,  business  evaluation or other business or legal due diligence review
of Syms and its subsidiaries are not satisfactory to the Lender.

Loans outstanding up to $16,000,000  ("Tranche B Loans") will bear interest at a
rate per annum equal to, at Syms'  option,  (i) the Lender's  Prime Rate or (ii)
the sum of LIBOR (for  interest  periods of 2 or 3 months) plus 2.0%,  provided,
that,  in no event shall the interest  rate per annum for all Tranche B Loans be
less than 3.25%. Loans outstanding in excess of $16,000,000  ("Tranche A Loans")
will bear interest at a rate per annum equal to, at Syms' option, (i) the sum of
Lender's Prime Rate plus 2.0%, or the sum of LIBOR (for interest periods of 2 or
3 months) plus 4.0%,  provided,  that,  in no event shall the interest  rate per
annum for all Tranche A Loans be less than  4.25%.  Interest  rates  increase by
2.0% upon the occurrence of an event of default under the Credit Facility.

Syms is also  required  to pay  certain  fees to the  Lender  under  the  Credit
Facility,  including  a standby  letter  of credit  fee of 4.0% per annum on the
average  daily  undrawn  stated  amount of each  standby  letter of credit and a
documentary  letter of credit fee equal to 0.25% of the full face amount of each
documentary letter of credit, but not less than $150.

The  Credit  Agreement  contains   representations  and  warranties,   financial
reporting requirements, affirmative and negative covenants and events of default
customary for a credit facility of this size, type, and purpose.








                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.


                                            SYMS CORP

                                            By: /s/ Philip A. Piscopo
                                                --------------------------------
                                               Name: Philip A. Piscopo
                                               Title:    Vice President and
                                                         Chief Financial Officer

Dated: June 11, 2009