Mervyn's Joins Other Retailers, Files For Ch. 11
The company filed in the U.S. Bankruptcy Court for the District of Delaware. In a statement, the company said its stores would remain open.
“Mervyn's needs to reorganize its finances and operations due to the state of the economy and difficult operating environment for our industry,” Mervyn CEO John Goodman said. “A Chapter 11 filing was a necessary and prudent step.”
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