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Musicland to Ask for Financial Relief from Vendors

posted on 2005-12-15 22:25 EST
In an article that provides a lot of background to the Musicland restructuring, which is resulting in the closure of all Media Play stores, The Book Standard reports that MUSIC LAND will ask vendors to defer 40% to 50% of the company's accounts payable for three years, in return for either a note or non-convertible preferred stock.

This article has a follow-up: Musicland Group Files for Chapter 11 (2006-01-12 21:29)

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