USA: Federated To Buy Hawaiian Chain
Federated Department Stores is soon to sign a deal to buy Liberty House Inc, a department store chain based in Hawaii which has recently emerged from bankruptcy court proceedings, the Wall Street Journal reported. The chain, around 150-years-old, could possibly become a part of the Macy's West division, a subsidiary of FDS. The move would open up a new market territory for Federated, whose sales have been hit by the US economic slowdown.
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