Monday, July 21, 2008

And now ... Mervyn's?

The latest retailer rumored to be nearing Chapter 11 is Mervyn's:
The company has been trying to persuade vendors to send shipments for the back-to-school season, but if they don't agree, the chain may have to file for bankruptcy soon, the paper said in a report citing unnamed sources.
I mentioned a couple months ago that the poor economy would lead to some bankruptcies (hardly an earth-shattering prediction), but that most of those who hit bottom would be those who were in trouble even when the economy was stronger, and I think Mervyn's fits that description. I seem to recall (memory can play tricks) reading articles about their struggles back when they were part of Target (maybe back to the Dayton-Hudson days).

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