Mervyns department store chain closing 62 stores, laying off 4,800 workers - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Mervyns department store chain closing 62 stores, laying off 4,800 workers

Updated:
SAN FRANCISCO (AP) _ The Mervyns department-store chain plans to close nearly a quarter of its stores nationwide _ including one store and a distribution center in Utah _ and lay off 4,800 employees as its new owners attempt to improve the retailer's profitability.

The Hayward, Calif.-based company said Wednesday it will close 62 stores in eight states. All Mervyns stores in Michigan and Oklahoma, and some in Colorado, Louisiana and Texas, will close by February 2006.

The company also will close one store in each of California, Oregon and Utah, and two distribution centers, located in Texas and Utah.

The stores were money-losers and comprised just 17 percent of total sales, Mervyns said in a statement.

About 1,200 full-time employees and 3,600 part-time workers will be laid off, the company said.

Mervyns LLC was sold last year by Target Corp. to a private investment consortium in a deal worth $1.65 billion.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.