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BUSINESS BRIEFING / RETAIL : Wal-Mart helps apparel suppliers

November 14, 2009|Times Wire Reports

Wal-Mart Stores Inc. is helping more than 1,000 of its apparel suppliers secure financing based on the strength of its own credit rating.

The program was outlined in a letter to suppliers Nov. 2. Commercial finance giant CIT Group Inc. had filed for bankruptcy protection a day earlier, raising worries about apparel industry financing.

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