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October 17, 2018
NEW YORK — Sears' Chapter 11 bankruptcy filing will have ripple effects on everything from landlords to suppliers to workers.
Many vendors, which had already enforced stricter payment terms on Sears, are refusing to ship merchandise to stores. The company will further shrink its workforce, which has already been reduced to 68,000 as of the bankruptcy filing from 90,000 earlier this year.
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