Mervyn's issuing former owner Target and the private-equity firms theretailer sold the chain to for more than $1 billion. Mervyn'smanagement claims that the complicated deal gave those firms itsowned real estate, which was then sold and leased back to theretailer at higher rates, forcing bankruptcy.We can understand thatthe higher lease rates would impact the chain, but at the sametime, when we last discussed Mervyn's, many of you said that the chain was having problems foryears anyway.And can it really blame Target for selling to thehighest bidders? Some people think not.
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