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Kmart mulls next steps after bankruptcy filing
Kmart Corp filed for Chapter 11 in Detroit, aiming to salvage value from 2100 plus stores. Analysts say a clear plan to rebuild customer confidence is needed while evaluating store profitability and potentially closing up to 700 locations. The retailer has secured $2 billion in new financing and targets emergence in 2003. Martha Stewart Everyday products remain a major Kmart line, with Stewart’s brand rights continuing under court approval.
MENTIONED IN THIS ARTICLE
Detroit
Kmart
Sebastian S. Kresge
Kmart Corp
Martha Stewart
Wal-Mart Stores Inc
Target Corp
Conor Reilly
Gibson, Dunn and Crutcher
Troy
Susan Pierson Sonderby
Chuck Conaway
Martha Stewart Living Omnimedia
Stewart
Federated Department Stores Inc