Credit Crunch to Impact Retailers Into 2009

Cash is king again.

Even if Congress approves a $700 billion government bailout plan, the credit crunch is expected to roil on well into 2009 — and more retailers and vendors will be pushed to the wall. Retailers are rapidly finding they have credit problems on several fronts — difficulties in getting their own bank loans and bond renewals as well as consumers’ credit card delinquencies and rising debt service costs.