Mervyn's
PE consortium split company into real estate and retail, forced retailer to pay rent on properties it previously owned. Extracted $200M in fees. All 257 stores liquidated.
- FOUNDED
- 1949
- ACQUIRED
- Sun Capital Partners, 2004, $1.2 billion
- IMPACTS
- 1 documented
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Editorial Record
maintained by DeathbyPE. Every claim links to a public source.Timeline
Mervyn's founded
Acquired by Sun Capital Partners for $1.2 billion
Mervyn's destroyed by PE consortium that extracted $200M in fees
CriticalClosure / BankruptcyCerberus, Sun Capital, and Lubert-Adler split Mervyn's into real estate and retail entities, forcing the retailer to pay rent on properties it previously owned. Extracted $200M in fees and dividends. All 257 stores liquidated. PE firms later settled lawsuit for $166M.
Before / After
Store count
reported 2008
before 257 stores
after 0 (liquidated)
-100%
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