“Mervyns” finally filing for bankruptcy?
Posted by v on July 18, 2008
The long time ailing retailing giant may finally be about to throw in the towel. Lenders and credit analysts are jittery about the future of Mervyns, the $2.5 billion moderate-price regional department store chain.
Industry speculation focused on the possibility of a bankruptcy filing confirming rumoursof Mervyns impending doom.
Mervyns, based in Hayward, Calif., has been hurt by the housing implosion in that state, and its core customers are being squeezed by rising gas and food prices, job cuts and tight credit.
A Mervyns spokesman declined to comment. We’ll keep you posted.
