KKR and other lenders to Belk are making efforts with the department store chain to keep it from filing for bankruptcy. Belk, Sycamore Partners and the lenders are currently in talks to try to resolve their issues out of court. The department store retailer, like many other “non-essential” retailers, has taken a hit during the novel coronavirus pandemic due to store closures and a reluctance by consumers to shop at malls.

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