Mervyn’s, Bennigan’s Declare Bankruptcy

In more signs of a troubling economy for retailers, the respective parents of the Mervyn’s department store chain and Bennigan’s and Steak & Ale restaurants separately filed for bankruptcy protection Tuesday.

HAYWARD, Calif. — In more signs of a troubling economy for retailers, the respective parents of the Mervyn’s department store chain and Bennigan’s and Steak & Ale restaurants separately filed for bankruptcy protection Tuesday. Mervyn’s, based here, said it would continue to operate its 176 stores while restructuring its debt under Chapter 11. Mervyn’s is owned by hedge fund Cerberus Capital, which also purchased Albertsons stores in that retailer’s breakup. Plano, Texas-based Metromedia R

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