Mervyns files for bankruptcy protection

[HCE SuiGeneris]

By Jon Ortiz - [e-mail]
http://www.sacbee.com/103/story/1119217.html

Well, here's another one.

Hayward-based Mervyns Holdings LLC on Tuesday filed for bankruptcy protection, adding to the list of chain retailers this year pushed to the brink by economic forces that have cut into consumer spending for things such as clothes and shoes.

The midlevel apparel, housewares and jewelry chain operates nine stores in the greater Sacramento area and 178 in the West, most of them in California. The company said in a Tuesday press release that it will keep its stores open as it restructures, although Chapter 11 documents filed in U.S. Bankruptcy Court in Wilmington, Del., indicate it has identified some poorly performing stores and could shut them down.
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"We are committed to serving our customers and maintaining regular operations as we undertake this reorganization," Mervyns Chief Executive John Goodman said in the statement.

Falling home values – and California is among the hardest-hit states – stiffening credit markets and escalating food and energy costs have pressed consumers to pare back spending on non-essentials. Some retail stores haven't made the cut. Levitz Furniture Inc., Linens 'n Things Inc., Sharper Image Corp., Shoe Pavilion Inc. and Steve & Barry's LLC have all sought bankruptcy protection this year.

[Warpy]

1. They need to bounce their buyers

They went through a dramatic change about 15 years ago, dropping natural fibre clothing for the crap with ruffles and spangles that lasts maybe three washings before it dissolves.

When you go shopping for a natural fibre t-shirt and have to spend an hour after you get it home cutting off all the rhinestones and sequins, something is wrong.

[Wanet]

2. I agree with you Warpy

When my kids were little their clothes were nice. The last few years they have had nothing but cheap, clingy, sleazy-looking polyester knits.

[tjwash]

3. I wasn't even aware they were in business anymore.

They started sucking about 20 years ago. I stopped going in there when they started looking like a "newberry's"