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From Times Staff and Wire Reports

Potential Carter Hawley Bidder Ducks Out: Carter Hawley Hale Stores said one of two potential bidders for the West’s largest retailer has dropped out after looking at confidential financial information. A spokesman for Carter Hawley, which filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code in February, declined to identify both the disenchanted bidder and the one remaining. Many retail analysts interpreted the withdrawal as a setback in a months-long attempt by Carter Hawley creditors to attract competing bailout offers. To date, only Chicago-based Zell/Chilmark Fund has announced an offer.


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