According to BizJournal, Mervyns will file for bankruptcy soon. Wachovia and CIT Group on the hook for loans.  This on the heels of Bennigans filing for bankruptcy (hat tip The Travelin’ Man).   It’s getting ugly out there. Glad I moved cash out of the system. Good luck.

Mervyns LLC will file for bankruptcy protection this week unless it gets a last-minute cash infusion, according to a report late on Monday.

…

Mervyns is owned by Sun Capital Partners, along with other partners. Two of Mervyns biggest lenders are CIT Group Inc. and Wachovia Corp.