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Article Date: January 2003
Word Count: 387

KMART SEEKS COURT APPROVAL TO CLOSE 326 MORE DOORS.


Approximately 63% or 204 of the underperforming storesare situated across 11 states. If the bankruptcy court approves the closuresduring a scheduled Jan. 28 hearing, TX will have 54 Kmarts shutter, followed by25 in FL, 19 in CA, 18 in NC, 16 each in GA and OH, 13 each in MI and NY, 12 inIN and nine each in IL and TN. All five AK Kmarts will close.

Footstar, which operates licensed shoe departments inKmarts, says the mass merchant’s decision to shutter another 326 doorsshouldn’t have a material negative effect on its ongoing operations orperformance under its $325 million credit facility. The ... Log in to view full article.

 

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