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INDUSTRY UPDATE
HSBC Retail Services, a business unit of HSBC North America, Inc., has entered into a strategic alliance to acquire the credit receivables of Boscov's Department Stores.
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Bankruptcy filings in the federal courts skyrocketed 30 percent in calendar year 2005, according to data recently released by the Administrative Office of the U.S. Courts. In fact, it proved to be the largest number of bankruptcy petitions ever filed in any 12-month period in the history of the federal courts.
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