Bye-bye, Mervyn's

Bankrupt Mervyn's Holdings LLC plans to hold going-out-of business sales at its remaining 149 stores, according to a press release. Liquidation firms are bidding Wednesday for the rights to manage the sale.

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The winning liquidation firm will hold the going-out-of business sales over the holidays and shut down the stores after the holiday season.

Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC received court approval on Aug. 26 to hold similar sales for 26 California, Nevada, Arizona, Texas and Indiana stores.

The liquidation is the result of the California-based retailer's failure to reach agreements with potential buyers, The Deal's Jamie Mason reported. - Maria Woehr

See Mervyn's Press Release
See San Francisco Chronicle Story

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