Did you have a nice weekend? I hope so. Because the week is starting with a fresh blast of bad news. In today's Wall Street Journal: Mervyns Fights to Keep Its Store Doors Open.
Mervyn's LLC, the long-struggling California department-store chain, is fighting for survival as some of its vendors have halted shipments to the company and key lenders have pulled financing, according to people familiar with the situation.
In recent days, Mervyn's executives have been trying to persuade vendors to ship merchandise to the retailer for the crucial back-to-school season. If that effort fails, the company could be forced to file for bankruptcy protection as soon as this month and shut down, according to these people. Mervyns operates 177 stores in seven states, mostly in California.
A Mervyn's spokesman couldn't be reached to comment.
Much more here.