Client
Mervyn's
Mervyn's operates about 175 midrange department stores in California, Texas, and seven other states in the Southwest. In addition to name-brand apparel and housewares, Mervyns offers goods under private labels, including Hillard & Hanson. About half of its stores are in regional malls and cater to working moms ages 25 to 49. Mid-tier Mervyns has been squeezed by upscale department stores, as well as discount chains. As a result, the retailer has been closing stores. In 2004 former parent Target sold Mervyns to an investment consortium of Sun Capital Partners, Cerberus Capital, and Lubert-Adler/Klaff for $1.2 billion.