The executive vice-president finance and MIS of P.A. Bergner & Co. (Bergner), a large mid-western U.S.-based department store retailer, received word that Bank One had pulled its $32.1 million letter of credit. Buoyed by the successful acquisition of Boston Stores, Bergner acquired Carson, Pirie Scott & Co. The downturn in the economy coupled with "excessive" debt levels has precipitated a crisis. The focus of the case is on formulating .....more