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Caldor into Chapter 11

Published on .

Caldor Corp., Norwalk, Conn., citing a recent downturn in retail sales and a decline in trade credit support, filed a voluntary petition to seek protection under Chapter 11 of the Federal Bankruptcy Code. The filing, which was made in the U.S. Bankruptcy Court for the Southern District of New York, will enable the company to conduct business as usual while it implements a plan to reorganize and shore up support among its vendors and other creditors. All 166 Caldor discount department stores are conducting business as usual.

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