Hayward, Calif. Mervyns LLC plans to close its remaining 149 stores and shut down after nearly six decades in business, the company said on Friday.
The company will hold going-out-of-business sales during the holiday season to raise money for its creditors.
The liquidation will be conducted under Chapter 11 bankruptcy law.
Over the summer, Mervyns had filed for Chapter 11 protection from its creditors in U.S. Bankruptcy Court for the District of Delaware. The company said at the time that it planned to continue business as usual while it reorganized.
“Mervyns completed a thorough analysis of all available options, including a sale of the company,” the company said.