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Tuesday, July 29, 2008

Mervyn's Files BK

by Calculated Risk on 7/29/2008 08:03:00 PM

Just to post the official announcement.

From the LA Times: Mervyns department stores files for bankruptcy

"After careful consideration of available alternatives, the company's management board determined that a Chapter 11 filing was a necessary and prudent step that allows us to operate our business without interruption as we seek to restructure our debt and other obligations in a controlled, court-supervised environment," John Goodman, Mervyns chief executive officer, said in a statement.
It sounds like they will try to continue to operate.