Value City Files for Bankruptcy

According to this Forbes Article, Value City Department Stores have filed for bankruptcy protection and plan to close it's stores. Value City still has about 66 stores still open and employs 4,500 employees in 14 states.

Walmart to flourish during economic downturn

Walmart CEO and President, Lee Scott, said that Wal-mart is expected to flourish during this economic downturn. Here's a direct quote: "We see this as an opportunity to widen our moat. ... This is Wal-Mart time". Their main emphasis in their advertising will be on prices this holiday season. They will also continue to push friendlier service, cleaner stores and faster checkout.

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