Mervyns closing 20 more stores in 3 states (WA, OR, UT) by Feb 2007

[Bush_Eats_Beef]

Mervyns closing 20 more stores

http://www.bizjournals.com/sanjose/stories/2006/01/16/daily5.html

Mervyns LLC said on Monday it will close 20 stores in three states by February 2007. The store closings in Washington, Oregon and Salt Lake City are the second group in recent months for Hayward-based Mervyns.

The struggling mid range department store chain said in September it was closing 62 stores in eight states by February of this year.

The company said it plans to concentrate its investments on existing and new store locations in the West and Southwest.

Target Corp. sold Mervyns last year for $1.65 billion to a group of investors that includes Sun Capital Partners Inc., Cerberus Capital Management LP, Lubert-Adler and Klaff Partners LP.

[jrd200x]

1. They just closed all here in MI

right next to a booming odd-lots store (deep discount crap).

The freaks are lining up to buy cheap crap at 70% off. All Bush voters.

[riffraff]

2. Crazy..

they are closing thier stores in Austin, too. Don't know why, it always looked like they were ringing up sales.

[Zynx]

3. Retail is a very low margin business.

If they had one hiccup in their cost structure that they never fixed they could have been running losses without end for some time.