July 29, 2008 / 7:34 PM / 9 years ago

Mervyns says files for Chapter 11 bankruptcy

NEW YORK (Reuters) - Department store chain Mervyns said on Tuesday that it had filed for Chapter 11 bankruptcy protection “due to the state of the economy and difficult operating environment for our industry.”

The retailer said Mervyns stores will remain open as it works through the bankruptcy process.

Mervyns said it has received a commitment for a $465 million debtor-in-possession facility from a lender group led by Wachovia Capital Finance Corp.

Reporting by Nicole Maestri; editing by Carol Bishopric

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