|
MSM: Mervyns & Linens n Things plan liquidation
|
|
10-18-2008, 08:23 PM
Post: #1
|
|||
|
|||
|
MSM: Mervyns & Linens n Things plan liquidation
Its over for Mervyns.
The Hayward retailer said Friday that it would close its remaining 149 locations. The stores will remain open through the holiday season with liquidation sales. Mervyns previously planned to close 26 underperforming locations. The 59-year old chain, with a California-heavy store base, filed for Chapter 11 bankruptcy protection at the end of July, but proved unable to gain any traction on its turnaround efforts. The company had struggled in recent years, squeezed at the bottom by retailers like Wal-Mart (NYSE: WMT) and out-performed by its mid-tier competitors like Kohls and J.C. Penney (NYSE: JCP). Link: http://dprogram.net/2008/10/18/msm-mervyns...an-liquidation/ |
|||
|
|
« Next Oldest | Next Newest »
|
User(s) browsing this thread: 1 Guest(s)