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Furniture and Apparel Retailers Face Bankruptcy Amidst Market Challenges
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Furniture retailer Z Gallerie files for bankruptcy for the second time in less than two years, citing pandemic-related supply chain and import costs, as well as a housing slump due to spiking interest rates. Soft Surroundings, a womens apparel retailer, files for bankruptcy and will close all 44 of its stores. Business bankruptcies rise 17% in August due to rising interest rates and economic headwinds.
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How are other furniture and apparel retailers faring in the current market?
What are the potential long-term implications of rising business bankruptcies?
What strategies can companies employ to overcome supply chain and housing slump challenges?
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