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Vain hope

25 October 2004

Investors hope the German retailer can use its properties to recapitalise itself. It could probably pay off its debts if it sold the lot. But that would still leave it with a pensions problem and a huge lease bill to service. And that looks like a tall order. But that would still leave it with a pensions problem and a huge lease bill to service. Servicing that looks like a tall order.

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