R H Macy Co Inc

The still unanswered question, after thousands of words have been expended on Macy's filing for bankruptcy protection, is: Where did all the money go? Macy's public stock was bought in a 1986 leveraged buyout for $3.5 billion. Chairman Edward S. Finkelstein has boasted of increasing sales since the buyout to almost $7 billion. Yet the company cannot pay suppliers, and employees fear for their jobs.

R.H. Macy & Co. is asking bank creditors to lower their earnings requirement for the financially troubled company's spring season. The retailer said it is going to fall short of earnings expectations in February, when its spring season begins, according to a 10K report the company filed with the Securities and Exchange Commission. In January, after filing for Chapter 11 under the U.S.