News wire -- From luxury fashion labels to oil producers, U.S. companies have faced insurmountable stress from the COVID-19 pandemic and the crash of oil prices, forcing them to close stores, borrow heavily to run their businesses and eventually file for bankruptcy protection. Sales at U.S. retailers slumped as they had to close doors following government-mandated lockdowns, while oil and gas companies faced one of the worst price slumps in decades hit by a month-long price war between top producers Saudi Arabia and Russia and a coronavirus-induced tumble in fuel demand. - Reuters
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