Report: Mervyns Stores Plan To Liquidate, Cease Operations
Hayward, Calif. Mervyns LLC may have plans on Friday to announce that it is filing for Chapter 7 bankruptcy protection, according to a report on the Web site of San Francisco CBS 5.
The move will cause the retailer to shut its doors and liquidate its inventory, according to the report.
Over the summer, Mervyns had filed for Chapter 11 protection from its creditors in U.S. Bankruptcy Court for the District of Delaware. The company said at the time that it planned to continue business as usual while it reorganized.
According to the report, Mervyns officials declined to comment Thursday evening, but said that there would be an announcement from the company on Friday.