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The troubled retailer has been struggling for a decade now. But is there still hope?
The dominoes just keep falling: Banks, utilities, internal employees, maintenance crews — they could all lose out.
Retail sales numbers fell by more than 16% in April. For clothing retailers, they were down by 79%.
Multibillion-dollar retailers are enormous machines, with a complex network of suppliers and tens of thousands of workers around the country. Chapter 11 puts them in limbo.
Sales talks fell through for the company behind critical hits such as "The Artist."