Mervyn’s begins reorg effort
July 30, 2008-- Home Textiles Today,
Wilmington, Del. — A range of first-day motions was scheduled for consideration in the first federal bankruptcy court hearings since Mervyn’s department stores filed for Chapter 11 protection yesterday, ending months of speculation about its condition.
The company’s 30 largest unsecured creditors are led by Levi Strauss & Co., listing $12.8 million outstanding, more than twice the $6.1 million owed to the second largest unsecured creditor, Wicked Fashions. There are no home textiles suppliers among the 30 largest vendors the retailer owes.
Mervyn’s filed it unsecured creditors matrix yesterday — 723 pages containing nearly 40,000 names, apparently including the company’s employees. Among home textiles trade vendors were various Springs Global entities, as well as Westpoint Home.
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