Kohl’s Department buys 31 locations from Mervyns LLC

Kohl's Department Stores, a subsidiary of Kohl's Corp., has acquired 31 locations from Mervyns LLC, which is liquidating assets under bankruptcy.

Kohl's Department Stores, Inc. operates department stores. It offers apparel, footwear, accessories, and home products to middle-income customers.

Headquartered in Menomonee Falls, Kohl's has won an auction of leaseholds Thursday in the Mervyns bankruptcy case. The company said it prevailed in a joint bid with Forever 21 Inc. for 46 locations for approximately $6.25 million.

However, the company did not disclose the location of the stores, but Kohl's has been considered as an important contender to acquire Mervyns' California sites and expand in the state.

Presently, Kohl's runs more than 1,000 stores and plans to open about 50, including the former Mervyns' locations, in 2009.

It is noted that Mervyns filed for Chapter 11 bankruptcy protection in July but proved unable to gain any traction in its turnaround effort.

The privately-owned department store chain is based in Hayward, Calif., and operates 177 stores, mostly in California and Arizona.

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