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Code Blue for the Blue Light
Updated from 7:44 a.m. EST
Kmart(KM Quote) sought Chapter 11 bankruptcy protection Tuesday in the largest-ever such filing by a U.S. retailer.
The move ended nearly two weeks of speculation and came after the discount retailer's situation with suppliers deteriorated over the weekend. The filing will buy Kmart time to assess its options, but it's not clear what the company might do to make itself viable in the face of rising challenges from rivals Wal-Mart and Target. ...
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