Mervyns expected to announce liquidation

Ailing department store chain Mervyns LLC, which filed for Chapter 11 bankruptcy protection in July, is expected to announce as early as Friday that it plans to liquidate all of its stores, according to one source close to the situation.

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Mervyns files for Chapter 11 bankruptcy protection

Department store chain Mervyns LLC filed for bankruptcy protection on Tuesday, the latest in a series of merchants stumbling in the harsh retail environment and another blow to the nation's struggling malls.

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Mervyns face financial squeeze

Mervyns LLC, the low-end department store chain that has been languishing for several years, could be the latest casualty of the fiercely competitive retail climate.

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Retailer Mervyns LLC said it will close its remaining stores and wind down its business by selling off inventory at discounts as the holiday season approaches.

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Bankrupt retailer Mervyn's LLC became the latest high-profile company to succumb to a dismal economy when it announced on Friday that it will cease operations and hold going-out-of-business sales at all of its stores, idling hundreds of Bay Area workers.

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Department store chain Mervyn's LLC will file for bankruptcy protection in the next few days barring a last-minute cash infusion, the Wall Street Journal reported on Monday on its website, citing people familiar with the situation.

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