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Unsecured creditors seek quick liquidation of former sporting goods giant
Unsecured creditors of Sports Authority said in court papers that the bankrupt retailer should not waste its dwindling funds preparing a plan to end its Chapter 11. The unsecured creditors argued the company, which filed Chapter 11 in March, is "administratively insolvent," meaning it cannot even pay the cost of running its bankruptcy case, Reuters reported. -
Done deal for merger of two supermarket giants
The Federal Trade Commission has given its blessing to a deal that creates the fourth largest supermarket company in the United States. Delhaize Group, owner of Food Lion, and Royal Ahold NV, owner of Stop & Shop, on Sunday completed their $29 billion merger after they received regulatory clearance by the Federal Trade Commission.