Are you better off than you were eight years ago? Just ask the people at Mervyns & Linens N Things!

[sce56]

http://www.latimes.com/business/la-fi-mervyns18-2008oct18,0,5454403.story
Mervyns to liquidate remaining stores
After 59 years in business, the Mervyns department-store chain called it quits Friday -- promising a huge going-out-of-business sale just in time for the holidays.

And there is plenty of competition for a close-out Christmas. Linens 'n Things Inc. began a liquidation sale Friday, and Shoe Pavilion Inc. starts one this weekend, according to firms that said they were hired to liquidate the stores.

Already gone are the novelty retailer Sharper Image Corp., Wickes Furniture and Levitz Furniture, and retail experts say more closings loom.

"This is unprecedented, really, the number of stores that are going to be closing," said Daniel Kane, principal of Tiger Capital Group, one of several firms hired to liquidate Linens 'n Things and Shoe Pavilion. "There's going to be a tremendous amount of bargains out there."

[JDPriestly]

1. Same thing happened under Bush I.

We lost Buffums and Bullocks among other stores.

Let's see we have Kohl's, Macy's/May, and then Target and Walmart. Anything else? The day of the middle class department store is over. Of course, Saks and the upper end stores are doing OK.

[silverojo]

2. "Tremendous amount of bargains"?!?!?

All these people losing their jobs, and "bargains" is all Daniel Kane gets out of this? Shallow son of a bitch!

[liberalmuse]

3. I don't know if I'm better off...

but since I moved to a Blue State, I've almost doubled my income. Bush had nothing to do with it. Mervyn's died over a year ago here.

[MadMaddie]

4. This is just the beginning of retailers shutting their doors

next year will be worse!

[adarling]

5. Its upsetting

work parttime at Linens n things and it was alot of fun. it had its times but the people are great. i feel bad for everyone right now. the vultures are out picking everything over for a 10%-30% discount...sad because they usually had 20% coupons (where were you people when we needed you?) the company really screwed over the people that work there. They really did. this is just the beginning though i bet..for everyone