Walmart at Mervyns site

Full story: Daily Breeze 45
A while back there was an article in your paper about Walmart moving into the old Mervyns location on Hawthorne Boulevard. Full Story
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Jim

Rancho Cucamonga, CA

#1 Jun 18, 2010
I miss Mervyn's. There seems to be a lack of quality "accessories" out there. The stuff we got at Sears does not cut it. Tried a lot of different brands but still the mist comfortable are the ones left over from Mervyn's.

All the stuff at Walmart does not meet my expectations so I won't be going there again.

Anyone know where they sell the products that Mervyn's used to sell?
Torrance Mom

Los Angeles, CA

#2 Jun 18, 2010
Wow 200-300 jobs. woopee! How many already established stores in the immediate area are we gonna lose? Wal-mart sucks! You get what you pay for....crap!
NickInTorrance

Los Angeles, CA

#3 Jun 18, 2010
There goes the neighborhood.
RoadRage

Covina, CA

#4 Jun 18, 2010
The parking sucks in that center. I don't think the other stores will last long after wallmart opens.
Business Man Torrance CA

Lakewood, CA

#6 Jun 18, 2010
Wallmart, what a great corporate citizen. A business known up front to knock out dozens of existing local businesses, employ seniors and illegal alliens for their slave labor force, provide no insurance or benefits as no one works over 20 hours a week, and sell us more lead poisened crap from Asia. How wonderful. I wonder who in the local city council or planning commission was paid off this time for their vote of approval. I agree with most everyone above in that more traffic, more crime and more unemployment shall come from this brilliant decision.
Silent Running

United States

#9 Jun 18, 2010
there goes Real Torrance, I bet you all the people from the hood are going to be down at walmart. Watch Staples and Petco go out of Business.

“Too many frauds out there...”

Since: Jun 10

Location hidden

#11 Jun 18, 2010
Business Man Torrance CA wrote:
Wallmart, what a great corporate citizen. A business known up front to knock out dozens of existing local businesses, employ seniors and illegal alliens for their slave labor force, provide no insurance or benefits as no one works over 20 hours a week, and sell us more lead poisened crap from Asia. How wonderful. I wonder who in the local city council or planning commission was paid off this time for their vote of approval. I agree with most everyone above in that more traffic, more crime and more unemployment shall come from this brilliant decision.
You do realize that 90% of your claims about Walmart ALSO apply to about every other retailer in the South Bay, right?

If not, you're deluded.
Dale

Manhattan Beach, CA

#13 Jun 19, 2010
Business Man Torrance CA wrote:
Wallmart, what a great corporate citizen. A business known up front to knock out dozens of existing local businesses, employ seniors and illegal alliens for their slave labor force, provide no insurance or benefits as no one works over 20 hours a week, and sell us more lead poisened crap from Asia. How wonderful. I wonder who in the local city council or planning commission was paid off this time for their vote of approval. I agree with most everyone above in that more traffic, more crime and more unemployment shall come from this brilliant decision.
your no business man
Moko

Westminster, CA

#14 Jun 19, 2010
Silent Running wrote:
there goes Real Torrance, I bet you all the people from the hood are going to be down at walmart. Watch Staples and Petco go out of Business.
Torrance is a "red neck" city anyway, Walmart will just bring out the real cross dressing hillbillies and weirdos. I will look forward to more laughs afer seeing the lates posts on the internet. LOL
Mark

AOL

#15 Jun 19, 2010
Lucky for Petco, it's safe, since it's around the corner. Poor Staples is right next door. Walmart will only bring in more outsiders into this part of town. You can already notice when you drive along Hawthorne or take a walk through the Del Amo Mall what's happening and what the city is turning into. Hint...dine at Red Lobster and see what I mean.
Chester

Westminster, CA

#16 Jun 19, 2010
Mark wrote:
Lucky for Petco, it's safe, since it's around the corner. Poor Staples is right next door. Walmart will only bring in more outsiders into this part of town. You can already notice when you drive along Hawthorne or take a walk through the Del Amo Mall what's happening and what the city is turning into. Hint...dine at Red Lobster and see what I mean.
Walmart will fit in just right!! Any city can use more revenue. Torrance should welcome all visitors with open arms.
Walmart Soon

Santa Monica, CA

#17 Jun 19, 2010
The sooner the better, let's get our Walmart and start saving money NOW. And FYI, Target killed Mervyns.

“Too many frauds out there...”

Since: Jun 10

Location hidden

#18 Jun 19, 2010
Walmart Soon wrote:
The sooner the better, let's get our Walmart and start saving money NOW. And FYI, Target killed Mervyns.
Not.

Mervyns killed Mervyns.

They got in financial trouble due to some illicit employee activities AND for various pricing illegalities.

The owner's kids weren't interested in taking over so he just shut down.

Since: Jun 08

Thailand

#20 Jun 19, 2010
LOLinCA wrote:
<quoted text>
Not.
Mervyns killed Mervyns.
They got in financial trouble due to some illicit employee activities AND for various pricing illegalities.
The owner's kids weren't interested in taking over so he just shut down.
Maybe (1)Target killed Mervyns, maybe (2)Mervyns killed Mervyns. I haven't done a detailed analysis so I don't know. Another possibility is that (3)Cerberus killed Mervyns. Cerberus Capital Management is an investment company that was involved in the Chrysler and GMAC fiascos of 2008 and 2009. Cerberus Capital Management has plenty of money but the source of those funds is known but to God.

Here's a Reuters report:
Reuters wrote:
Mervyn's suit blames ex-owners for bankruptcy -WSJ
Sept 4
Thu Sep 4, 2008 7:36am EDTSept 4 (Reuters)- Department-store chain Mervyn's LLC has sued its former private-equity owners, saying they stripped it of valuable real estate then nearly doubled its rent, pushing it into bankruptcy protection five weeks ago, the Wall Street Journal said.

The purchase of Mervyn's in 2004 by a high-profile group including Cerberus Capital Management and Sun Capital Partners was structured as two separate transactions, one for the retailer and a second one for the retailer's real estate.

The suit alleges that this complicated structure enriched the private-equity firms while leaving the retail operations insolvent, the paper reported.

"The 2004 transaction is a transaction that ultimately led to Mervyn's bankruptcy," the suit claims, calling it a deal that "cannot withstand scrutiny".

Mervyn's, based in Hayward, California, had 177 stores in seven states, employed about 18,000 people and had annual revenue of about $2.5 billion. The 59-year-old retailer has so far announced plans to close 26 stores and fire about 1,700 people as part of a restructuring plan.

No one at Mervyn's, Cerberus or Sun Capital was available for immediate comment.(Reporting by Sweta Singh in Bangalore, editing by Will Waterman)
Here's a 2007 Washington Post report on Cerberus that mentions the Mervyns acquisition:
http://www.washingtonpost.com/wp-dyn/content/...

Since: Jun 10

Location hidden

#22 Jun 19, 2010
Business Man Torrance CA wrote:
Wallmart, what a great corporate citizen. A business known up front to knock out dozens of existing local businesses, employ seniors and illegal alliens for their slave labor force, provide no insurance or benefits as no one works over 20 hours a week, and sell us more lead poisened crap from Asia. How wonderful. I wonder who in the local city council or planning commission was paid off this time for their vote of approval. I agree with most everyone above in that more traffic, more crime and more unemployment shall come from this brilliant decision.
So if what you are saying is true the world is in such a mess then why shouldnt we get a good deal for our families at WALMART, I sure hope they open there soon! And my daughter could use a summer job.
Rudy

Westminster, CA

#23 Jun 19, 2010
Karlheinz wrote:
<quoted text>
Who needs "other stores," when you can have Wal-Mart?
Just ask LeRoy and Frank Scotto.
They can do without them, these "other stores" I mean.
Frank Scotto will make sure there will be room for a couple of his tow trucks.

“Too many frauds out there...”

Since: Jun 10

Location hidden

#25 Jun 19, 2010
Stanley Engel wrote:
<quoted text>
Maybe (1)Target killed Mervyns, maybe (2)Mervyns killed Mervyns. I haven't done a detailed analysis so I don't know. Another possibility is that (3)Cerberus killed Mervyns. Cerberus Capital Management is an investment company that was involved in the Chrysler and GMAC fiascos of 2008 and 2009. Cerberus Capital Management has plenty of money but the source of those funds is known but to God.
Here's a Reuters report:
<quoted text>
Here's a 2007 Washington Post report on Cerberus that mentions the Mervyns acquisition:
http://www.washingtonpost.com/wp-dyn/content/...
Mervyn Morris sold Mervyn's to Dayton-Hudson...forgot when, but a while back. His kids didn't want to run the business so he sold. D-H is now Target. Cerberus and another partner bought Mervyn's from Target about 5-7 years ago I believe.

Mervyn's and Target could have co-existed (different offerings) had not Mervyn's been run by those whose management tactics stunk.
Moko

Westminster, CA

#26 Jun 20, 2010
Attnetion Walmart shoppers........ No whinning just shop.
Hooray

Santa Monica, CA

#28 Jun 20, 2010
Get that store open!
Wrongo

Santa Monica, CA

#29 Jun 20, 2010
LOLinCA wrote:
<quoted text>
Not.
Mervyns killed Mervyns.
They got in financial trouble due to some illicit employee activities AND for various pricing illegalities.
The owner's kids weren't interested in taking over so he just shut down.
Target owned Mervyns. They sold it to a hedge fund. Target KEPT all the real estate, and ultimately refused to reduce rent costs, driving the hedge fund into bankruptcy. In the end, the hedge fund even SUED Target.

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