On August 30, 2011, Hart Stores, Inc. obtained an initial order for court protection from creditors under the Canadian Companies' Creditors Arrangement Act through September 29, with extensions possible. The retailer, which operates 92 mid-sized department stores throughout Eastern Canada, will be able to borrow $20 million from Wells Fargo Capital Finance Corp. Canada to meet its liquidity requirements, such as paying its staff and suppliers.
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