By and and  on October 17, 2008

The economy has claimed its first major department store casualty — stoking fears more may come.

On Friday, the $2.5 billion Mervyns said it would liquidate, holding going-of-business sales at its remaining 149 locations and auctioning off its store leases. The 59-year-old moderate-price regional department store chain was once a dominant force in California and the Southwest.

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