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January 17, 2002

USA: Kmart Woes Could Hit Taiwanese Firms Hard

Taiwanese firms are expected to be among the biggest losers if troubled US discount retailer Kmart Corp is forced to declare bankruptcy after its directors admitted they may have to seek extra funding from banks. Observers on Thursday said Taiwanese companies could lose up to US$1 billion a year if the retail giant is forced to file for bankruptcy protection following a sales slump.

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