Blog: Leonie BarrieMervyns’ future looks bleak

Leonie Barrie | 30 July 2008

Mervyn's is the latest US retailer to join an ever-lengthening list of companies who have filed for bankruptcy this year. Steve & Barry's, Shoe Pavilion and Goody’s are just three that have succumbed in recent months.

The department store chain says it has a US$465m debtor-in-possession funding, and intends to remain open during the bankruptcy process. But a long-term turnaround plan put into place earlier this year, and which included a focus on markdowns and promotions, has clearly proved to be less then effective in recent months as the retail market has slowed.

It’s future, and that of other mid-tier retailers, depends on whether or not it can find another way to draw back consumers who are currently seeking bigger bargains at discount stores.

US: Mervyns files for Chapter 11 bankruptcy protection


BLOG

Busana Apparel on an expansion drive

Busana Apparel Group, Indonesia's largest woven apparel exporter, is on a drive to expand its domestic capacity, has set up its first factory in Ethiopia, is exploring opportunities in Vietnam, and ey...

BLOG

Act now to keep receiving just-style newsletters

You may have noticed a red alert bar at the top of just-style’s weekly and daily newsletters asking you to “Act now to keep receiving the just-style newsletter.” ...

BLOG

Apparel imports into the US rose in June

Apparel imports into the US rose in June as merchants stocked up for summer and prepared for the back-to-school season, with imports from Vietnam continuing to surge....

BLOG

US retailers under pressure to grow sales as mall traffic slows

Under Armour is to close stores and cut jobs – around 2% of the company's global workforce – as part of new plans to build a stronger and smarter company with faster go-to-market speed and greater dig...

just-style homepage



Forgot your password?