News
« Retail Sales Slump In September | | St. John Launches Contemporary Line, New Store »
October 20, 2008
Mervyns To Liquidate; Close All Locations
Moderate-priced department store Mervyns announced that it is liquidating its business after falling on tough economic times. The retailer will close all of its 149 locations and auction off its leases following massive going-out-of-business sales held over the holidays.
The felling of Mervyns unsettled the market as observers wonder which big box retailer could be next. Furthermore, its liquidation sales mean there will be a tide of low-priced product available, which might hurt other discount stores at Christmas.
Posted by Blacks on October 20, 2008 10:44 AM
