Mervyns Closing 62 Stores
 

I know we have quite a few in Washington state, but I don't know how big they are everywhere else

Mervyns Closing 62 Stores, Laying Off 4,800
http://news.yahoo.com/s/ap/20050907/...rvyns_closures

SAN FRANCISCO - The Mervyns department-store chain plans to close nearly a quarter of its stores nationwide and lay off 4,800 employees as its new owners attempt to improve the retailer's profitability.


The Hayward, Calif.-based company said Wednesday it will close 62 stores in eight states. All Mervyns stores in Michigan and Oklahoma, and some in Colorado, Louisiana and Texas, will close by February 2006.

The company also will close one store in each of California, Oregon and Utah, and two distribution centers, located in Texas and Utah.

The stores were money-losers and comprised just 17 percent of total sales, Mervyns said in a statement.

About 1,200 full-time employees and 3,600 part-time workers will be laid off, the company said.

Mervyns LLC was sold last year by Target Corp. to a private investment consortium in a deal worth $1.65 billion.

They use to have a whole bunch in Florida about 10 years ago. I'm pretty sure all of them have closed.

We have one there that sticks out in my mind. At the big mall here (north Star). In the early 90's Lord and Taylor pulled out and the mall was losing $ by not having someone in there. They let Mervyn's come in and it was kind of embarrassing to the mall after that. It was/is directly across from Saks and they had a 20 year lease or something. While the mall will be glad to be rid of them, I dont know what they are going to put there, because of the Macy's / Foley's merger, Macy's has announced it will be closing one of those anchors int he mall (Specifically, the Macy's and rebranding the existing Foley's into a Macys.) So the big mall here now has 5 anchor's and will be dropping to 3. Not good timing for them because a 'higher end' mall opens here next weekend, with better stores and a newer look.

This is very interesting.....I worked at Mervyn's right out of high school...its such a goodie store....


I hope they move up the "retail ladder" a bit, 'cause let's face it, even though its a goodie store....it is considered low end. Esp here in CA where Kohl's is making a HUGE push.

I would love to see Dillards out here on the west coast.