Mervyns has filed suit against its former ownership group, alleging the private equity firms’ business dealings forced the department store chain into bankruptcy in July.
The suit filed in federal bankruptcy court in Wilmington, Del., on Sept. 2 charges that the ownership consortium, which included Sun Capital Partners Inc. and Cerberus Partners, stripped Mervyns of valuable real estate assets, such as owned stores and below-market leases, when it took over the company for about $1.2 billion in a leveraged buyout from Target Corp. in 2004.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"