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Macy Creditors to Confer: The bondholders, bankers and manufacturers owed a total of $5.3 billion by retailer R. H. Macy & Co. are scheduled to meet in Manhattan today to organize into committees and select law firms to represent them. Attorneys for several of Macy’s creditors rushed last week to familiarize themselves with the company’s voluminous Chapter 11 bankruptcy filing after having been caught off guard by Macy’s move to reorganize. Macy’s attorney said that even management was not fully prepared for the filing and that the firm had only $200,000 in cash when it went to court last Monday.
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