JAPAN: Sogo’s Plan To Cut Outlets OK'd By Creditors
More than 90 per cent of around 3,300 creditor banks and suppliers to Sogo Co agreed Wednesday to a package of plans to reconstruct the failed department-store chain operator, including a strategy to reduce the number of outlets from 22 to 13 and rebuild the surviving 13. The package was later approved by the Tokyo District Court, the Kyodo News reported.
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