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US Retailers Face Massive Bankruptcy
Because sales of this holiday season may be the most dismal in 40 years, more than a dozen retailers in the US have filed for bankruptcy protection this year.
Howard Davidowitz, chairman of New York retail consulting and investment banking company, expects us retailers to close 1.2 stores in 2009.
According to statistics, the Christmas sales season this year showed the worst performance in at least 40 years.
Yang Jing: editor in charge
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