Campeau Labels Dun & Bradstreet Move ‘Irresponsible’
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TORONTO — Campeau Corp., the biggest department store operator in the United States, said Dun & Bradstreet Business Credit Services was irresponsible in its decision to no longer advise clients on whether they should ship goods to Campeau stores.
The credit rating company told clients that it would not provide guidelines on shipments to the stores, leaving wholesalers on their own to decide whether Campeau stores would be able to pay for the goods they are shipped.
Many suppliers are already jittery about doing business with Campeau’s Federated Department Stores Inc. and Allied Stores Corp. divisions because of the cash crisis they faced in September.
At the height of that cash squeeze, several suppliers were told by advisers that shipments to Federated and Allied were at their own risk, compounding Campeau’s already severe debt and cash-flow problems.
Dun & Bradstreet spokesman Bill Doescher confirmed the action but declined to comment on the reason.
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