Mervyn's Asks Bankruptcy Court To Sell Store Leases

Law360, New York (November 17, 2008, 12:00 AM EST) -- Bankrupt department store chain Mervyn's LLC wants a court's approval to sell off its remaining retail property leases as part of its planned liquidation.

The Hayward, Calif.-based company, which announced last month it was closing its doors, told the U.S. Bankruptcy Court for the District of Delaware on Friday that an orderly sale of its assets, including its leases, would maximize the recovery for its creditors.

Mervyn's has already obtained approval to sell 26 leases on stores subject to the first round of closures and wants...
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