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RETAILING

Times Staff and Wire Reports

Kmart Seeks to Raise Cash to Repay Loan: The Troy, Mich.-based discount chain is considering options, including the possible sale of the pharmacies and restaurants inside its stores, to raise at least $100 million to help meet the terms of a $3.7-billion bank agreement, banking sources said. The deal would be part of an effort to raise funds to pay off a portion of a proposed bank facility, which was unveiled in March by Kmart Corp. In addition, Kmart is hoping to use $125 million from the sale of its stake in Thrifty-Payless Inc., raise $600 million through the sale and lease-back of real estate, get $225 million through debt financing and raise $50 million through the sale of property in Canada.

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