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January 18, 2002

USA: Jacobson Stores Obtains Cash To Operate

Jacobson Stores Inc has been authorised by the bankruptcy court to use cash collateral to enable the business to continue its operations for the next few weeks to 26 January.   The court's action will enable the company to purchase merchandise and maintain business operations in its 23 stores while continuing negotiations with its bank group to develop a longer-term financing arrangement.

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