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• July 31, 2008 3:02 PM
• News

Dead Broke: California's Third Favorite Retailer Mervyn's Files for Bankruptcy

By Nicole Schlomann

Mervyn's, we barely knew ye. Really, we barely knew ye. Following a string of Chapter 11 filings among mid-tier retailers like Pier 1 and Steve and Barry's, the quasi-known chain store has announced it's going broke. Like many of our staffers, you may be wondering what the heck Mervyn's actually is. Their bland blue logo doesn't hint at much, and their circulars even less. Apparently the California-based department store, founded by a Mr. Mervin G. Morris, sells everything from clothing to electronics to beauty products. Though we're not sure how Californians view this mid-range store's crisis, we don't think Northeasterners will lose much sleep over it (actually, we know it). While the company will forge on after restructuring, their bankruptcy follows the trend of mid-size regional retailers folding under pressures from the recession, savvier competitors (Target, H&M, Wal-Mart), and "big box" stores (BJ's, Price Club, etc.). Let's just hope this wave doesn't reach our precious Astor Place Kmart. (DNR)

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