Will It Survive? Mervyns Files for Bankruptcy
NEW YORK - Department store chain Mervyns LLC filed for bankruptcy protection on Tuesday, the latest in a series of merchants stumbling in the harsh retail environment and another blow to the nation's struggling malls.The company, which had been languishing for several years, said that all of its 175 stores will remain open and business will continue as it reorganizes. Privately held Mervyns operates mainly in California, and has seen its sales drop further as the state is among the hardest hit by the real estate slump.
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