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

Trump spares textile machinery in tariff spat

Hundreds of US imports from China will be hit with an additional 25% tariff from next month – but to the relief of the US textile, apparel and footwear industry, most of the equipment used in the dome...

BLOG

Esquel's eco-friendly manufacturing complex

Hong Kong-based Esquel Group, the world's largest woven shirt maker, has been bedding-in operations at a ground-breaking new $313.3m eco-friendly manufacturing complex in southern China....

BLOG

Tariffs back at top of Trump's trade agenda

Tariffs soared back to the top of Trump's trade agenda last week, with the imposition of punitive tariffs on imports of steel and aluminium, and plans to proceed with an additional 25% tariff on impor...

BLOG

Digitalisation goalposts constantly evolving

The debate and discussion around digitalisation continues to top the apparel industry’s agenda – but as Spencer Fung, group CEO of Li & Fung explains, the goalposts are constantly evolving....

just-style homepage



Forgot your password?