Mervyn's Out Of Business
Mervyn's was a California based lower-priced department store that sold all household items from jeans, shirts, skirts, underwear, dresses and much more; was discovered on July 29, 1949 by Mervin G Morris. The first Mervyn's location was in San Lorenzo, California, although the store was based out of Hayward, California. Many people in California had shopped here at this store because it was a easy place to go to with good clothes for low prices for all necessary needs. In 2005 Mervyn's was said to be the eighty-third highest retailers within revenue, many stores were located inside malls. Shortly after 2005 having 189 stores in 10 states across the United States, 2006 peaked around the corner causing Mervyn's to …show more content…
July 21, 2008 the associated press had reported that Mervyn's had called financial distress and possible bankruptcy, and had finally stopped updating their financial status.Many places had denied helping Mervyn's because of their lack of money, they didn’t want to be in the same position Mervyn's was. Mervyn's had finally called for chapter 11 bankruptcy on October 17, 2008 with the United States Bankruptcy Court for the Northern District of …show more content…
In many cases if they all came together to do it they could have done really good. Mervyn's is a store so many generations can use, the older folks, young parents, teenagers, people shopping for gifts of any kind. If there was more effort to fix the company and kept it small I think it could still be around today. As generations grow, families grow, and businesses continue to grow as well. If we as the United States encouraged people to stay small, people would find a way to be able to get there to the store and spend a good amount of
Mervyn's was a California based lower-priced department store that sold all household items from jeans, shirts, skirts, underwear, dresses and much more; was discovered on July 29, 1949 by Mervin G Morris. The first Mervyn's location was in San Lorenzo, California, although the store was based out of Hayward, California. Many people in California had shopped here at this store because it was a easy place to go to with good clothes for low prices for all necessary needs. In 2005 Mervyn's was said to be the eighty-third highest retailers within revenue, many stores were located inside malls. Shortly after 2005 having 189 stores in 10 states across the United States, 2006 peaked around the corner causing Mervyn's to …show more content…
July 21, 2008 the associated press had reported that Mervyn's had called financial distress and possible bankruptcy, and had finally stopped updating their financial status.Many places had denied helping Mervyn's because of their lack of money, they didn’t want to be in the same position Mervyn's was. Mervyn's had finally called for chapter 11 bankruptcy on October 17, 2008 with the United States Bankruptcy Court for the Northern District of …show more content…
In many cases if they all came together to do it they could have done really good. Mervyn's is a store so many generations can use, the older folks, young parents, teenagers, people shopping for gifts of any kind. If there was more effort to fix the company and kept it small I think it could still be around today. As generations grow, families grow, and businesses continue to grow as well. If we as the United States encouraged people to stay small, people would find a way to be able to get there to the store and spend a good amount of