Debt Overtakes Mervyns.

by Rachel Lynn Foley, Kansas City, MO, Bankruptcy Attorney

The slowing economy and ever climbing debt load has overtaken Mervyns Department Store.  On July 29, 2008 Mervyns has filed for Chapter 11 Bankruptcy Relief in the District of Delaware.  In an effort to assist Mervyns with the restructuring of its debt, Wachovia pledged $465 million.

Debt is everywhere and no one and no company is immune to this poor economy.

Written by Kansas City Bankruptcy Attorney, Rachel Lynn Foley.

Tagged as: Mervyns

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