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Sears Files For Bankruptcy; To Close 142 Stores

PYMNTS

The bankruptcy filing is the culmination of years of effort on the part of Sears and chief executive officer Eddie Lampert to turn the company the billionaire acquired in 2004 around. Lampert had long vowed to bring Sears back to the days when it was a leading retailer, but his efforts failed to take off with consumers.

Branding 162
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India’s Struggling Yes Bank Sees Share Boost From $1.2B Offer

PYMNTS

Yes Bank is a private-sector bank that mainly operates as a corporate bank, but it also does asset management and retail banking. Yes Bank was founded in 2004; it grew rapidly, but was affected by more corporate defaults in the country. The deal is still awaiting approval by the bank’s shareholders and the board.

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Banks and CDFIs: Partnering for community impact

Abrigo

CDFIs are attractive partners to banks in part because of their long, 30-plus-year track record of managing capital, with few examples of investor losses. There are several resources available to help banks find CDFIs that operate in their Assessment Areas.

Community 246
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Here Are 35 Casualties Of The Retail Apocalypse And Why They Failed

CB Insights

Modern-day retail is at an inflection point as retailers face struggling physical storefronts, massive debt, and inefficient operations, among other issues. Formerly beloved brands such as Aeropostale, American Apparel, and PacSun bit the dust in 2016, and the pace of retail deaths has accelerated since then.

Retail 78
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Cashing In On Returns: Marketplaces Reinvent Inventory Liquidation

PYMNTS

Those unwanted products, in turn, can create headaches for retailers — and a business opportunity for the so-called secondary market. Retailer overstocks and excess inventory help to drive B-Stock, which facilitates the sale of some 70 million items each year via online auctions of various product categories and types.

Retail 101
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The Last (DVD) Picture Show

PYMNTS

The bold-yellow-lettering-on-blue-background-adorned movie rental stores that dotted the American landscape throughout the 1990s — Gothamist notes that, as late as 2004, there were around 9,000 Blockbuster locations in business across the country — now number a scant 51 independently operated franchises.

Video 100
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Uber of X: greenRush is The Uber of Cannabis

PYMNTS

Not until 2004 did cannabis become legal for non-medical use in certain areas of the country. It is often hard to find and search for local retailers, exacerbated by the fact that cannabis businesses are oftentimes located in undesirable areas. This is the marketplace that connects patients with retailers.

Las Vegas 140