Federated to Keep Bloomingdale’s: Federated Department Stores...
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From Times Staff and Wire Reports
Federated to Keep Bloomingdale’s: Federated Department Stores Inc. announced that it has decided against selling its swanky Bloomingdale’s retail chain. Proceeds from the sale of the New York-based department stores were expected to have stayed the hand of its creditors. But Federated, a unit of the troubled Toronto-based Campeau Corp., cited changes in market circumstances as well as its own financial status in deciding to hold on to Bloomingdale’s.
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