Desperate retailers to ask Fed, Treasury for emergency help

 

Source: David J. Lynch & Abha Bhattarai, NY Times ( Paid Registration )

The nation’s retail industry is swamped with stuff and short of cash.

As they reopen stores full of merchandise from March that no one will want in June, retailers are struggling to make room for summer goods trapped in overstuffed warehouses. With five big retailers having filed for bankruptcy in May, some of the industry’s survivors can’t get financial backing for their holiday season orders—prompting an urgent appeal to the Treasury Department and Federal Reserve for help.

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