Headlines

Kmart Says: 'List? What List?'

Bankrupt retailer denies there's a plan for 567 store closings

Published

22 years ago

November 5, 2002

admin1

A top executive from Kmart Corp. (Troy, Mich.) insisted that the bankrupt retailer has not compiled a list of 567 stores it plans to close following the upcoming holiday season.

“We do not have a list of stores scheduled to be closed,” said Ron Hutchison, chief restructuring officer. “There has been no presentation to me or senior management about any stores to be closed at this time.”

A business publication in Atlanta had said last week that it had obtained the list from unnamed sources.

The speculation has been that Kmart would trim the size of its chain ever since it filed for bankruptcy protection in January. At the time, it operated more than 2100 stores, and while it said it would attempt to keep all of them open, within a month it had submitted a plan for 300 closings. It has since closed 283 stores during 2002.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design