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Even with the rebound in the economy, the problems at Zale (ZLC) continue. The jewelry chain has posted a string of losses over the past couple years and is having liquidity issues. Keep in mind that the company recently indicated that there may not be enough cash flow to meet the operating needs for 2010.So to deal with the situation, Zale hired investment bank, Peter J. Solomon, which has a strong background in turnarounds.
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