Liz Claiborne hires turnaround firm NEW YORK, Sept 3 (Reuters) - Liz Claiborne Inc said on Thursday it hired turnaround firm Alvarez & Marshal on a "short term basis" to help the clothing and accessories maker improve operations and cash flow. "We have a good relationship with our bank group and, as part of our ongoing discussions with them, agreed to hire a consultant," Robert Vill, Liz Claiborne's treasurer and vice president of finance, said in a statement. Vill said the company engaged the firm "on a short term basis to review our working capital and cost reduction plans in...