Wie nicht anders erwartet und nun offiziell:

<font size="4">Kmart Files For Chapter 11 Bankruptcy Protection</font>

Kmart Corp. filed for chapter 11 bankruptcy protection today after struggling to make payments to its vendors and creditors, CNN reported. In recent weeks, ratings agencies had downgraded Kmart’s credit, its stock plunged and the company was removed from Standard & Poor’s benchmark index of 500 leading stocks. The bankruptcy filing had been widely expected, but company officials had declined to comment. According to Bankruptcydata.com, Kmart’s petition figure of $17 billion is the largest ever for a retailer. The news came a day after Fleming Companies Inc., Kmart’s largest food distributor, suspended shipments to Kmart after the retailer failed to make a weekly payment.

The retailer said it had secured $2 billion in debtor financing and expected to emerge from bankruptcy in about a year. Kmart said all of its 2,114 stores were open for business and that all credit cards, gift certificates and store credits would be honored as usual. It also said its pension and savings plans are independent of the company and would be administered as usual. But the Troy, Mich.-based company also said it would review the performance of each of its stores, with a goal to close unprofitable locations.



Quelle


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