Mervyn's
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Mervyn's is a neighborhood department store based in Hayward, California. They carry national brands in family apparel and home fashions. Many Mervyn's are found in shopping malls.
Mervyn's was founded in 1949 by Mervin G. Morris and opened its first store in San Lorenzo, California. In 1979, Mervyn's was acquired by Dayton Hudson Corporation. During the mid 1990s Mervyn's original store moved down the road to Hayward and the company tried a failed experiment to increase sales, by attempting to rename themselves "Mervyn's California" and including former San Francisco 49ers quarterback Joe Montana in their advertising.
In July of 2004 Mervyn's was bought from Target Corporation by a group of investors including private investment firm and turnaround specialist Sun Capital Partners Inc. of Boca Raton, LA and Cerberus Capital Management of NY and real estate investment company Lubert-Adler management Inc. in Philadelphia.
The distant plans for the future are not known, but analysts believe that the long term future of Mervyn's is not in jeopardy as was previously suspected. Although the company has been forced to lay off employees on numerous occasions, this is taken as standard operating procedure.