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It's official: KMart bankrupt

Oh my god, lookit that butt Becky it is sooo big! *looks around* Wait a minute, this isn't the Britney and Justin thread? 😕

O Ya! KMart is filing for bankruptcy. This could get really ugly people. With less competition around, Walmart and Target may be able to raise prices without losing much, if any business. In fact, they may be able to raise prices and actualy get more business then before the closure! Of course we're only talking Bankruptcy here, they haven't officially gone out of business.
 
Looks like they get whats coming to them.. paybacks for helping run out all the little 5 & 10's and Mom n' Pop stores years ago.

I've got nothing against K-Mart.. it's just kinda ironic i guess 😉
 


<< Looks like they get whats coming to them.. paybacks for helping run out all the little 5 & 10's and Mom n' Pop stores years ago. >>

Wal-Mart is actually much worse than K-mart ever was.
 


<< Wal-Mart is actually much worse than K-mart ever was. >>



I find just the opposite. Wal Mart tends to have a more robust selection and a cleaner environment. Not to mention it is open 24hrs 🙂
 
now the little birdie isnt flying overhead singing "cheap cheap cheap"

he's singing "no money, no money, no no....no money"


The Wal-Mart supercenters are HUGE. But, the Walmarts around here sure cater to the barefoot, feet hanging out of overflowing rubber thongs kinda people
 
Kmart will be back, Chapter 11 isn't that bad. It's Chapter 9 that one worries about. I hate Walmart.
 


<<

<< Looks like they get whats coming to them.. paybacks for helping run out all the little 5 & 10's and Mom n' Pop stores years ago. >>

Wal-Mart is actually much worse than K-mart ever was. >>




Target is the way to go IMO
 
Yakko meant that Wal-mart has a much worse reputation for monopolizing retail sales in small communities. It's their friggin' business plan to put small shops out of business. K-mart may do the same, but nonetheless, Wal-mart has it as their semi-official policy and certainly as an essential pillar to their reputation.
 


<< Kmart will be back, Chapter 11 isn't that bad. It's Chapter 9 that one worries about. I hate Walmart. >>



Is this correct? It thought it was Chapter 11 and Chapter 7. Not sure though.
 
If K-mart ceases to do business, it's going to be a staggering blow to the economy. The lines of influence are manifold. Immediately, there are thousands of unempolyed people from the K-mart corporation. There are millions of square feet of retail space going unused. The property owners cease to receive lease payments from K-mart, so they are in trouble too. The suppliers to K-mart are superscrewed, because in some cases, K-mart is their main customer. So they have to close up shop too. So more layoffs from those suppliers.

Now none of the thousands of laid off people can afford to eat at KFC or buy shoes from Payless or whatever. So it ripples through the country, resulting in more layoffs and less spending and more layoffs until some kind of lower equilibrium is finally attained.

Now this is America, so there will be a lot of new jobs created, and so forth. Suppliers will shift to Wal-mart, Wal-mart may move into old K-mart buildings in some places at fire sale prices, etc. But it won't be instantaneous, and you still have the chicken and egg problem getting the economy to move up again.

Anyway, it's the overall slam to our weak economy that is important here. Not whether or not K-mart is as shiny as Wal-mart.
 


<< If K-mart ceases to do business, it's going to be a staggering blow to the economy. The lines of influence are manifold. Immediately, there are thousands of unempolyed people from the K-mart corporation. There are millions of square feet of retail space going unused. The property owners cease to receive lease payments from K-mart, so they are in trouble too. The suppliers to K-mart are superscrewed, because in some cases, K-mart is their main customer. So they have to close up shop too. So more layoffs from those suppliers.

Now none of the thousands of laid off people can afford to eat at KFC or buy shoes from Payless or whatever. So it ripples through the country, resulting in more layoffs and less spending and more layoffs until some kind of lower equilibrium is finally attained.

Now this is America, so there will be a lot of new jobs created, and so forth. Suppliers will shift to Wal-mart, Wal-mart may move into old K-mart buildings in some places at fire sale prices, etc. But it won't be instantaneous, and you still have the chicken and egg problem getting the economy to move up again.

Anyway, it's the overall slam to our weak economy that is important here. Not whether or not K-mart is as shiny as Wal-mart. >>



K-mart has been dying a slow death for years. This was when the economy was booming. Now the economy has gone through one moderaly bad year and K-mart topples. Yes it will be an immense pain for the people directly affected (employees, etc). However it won't have a noticible effect on the American economy. I've heard about 350 stores will close. That is such a small fraction of the total national stores that its ripple effects will be small. It isn't like K-mart is disappearing completely (yet) just it is removing the unprofitable stores.

K-mart was extremely inefficient (hence its struggles) - getting rid of an inefficient beast can be a good thing for the economy (in the long term). New businesses can come in and buy cheap property vacated by K-mart - and hire some of the unemployed K-mart workers. If the new businesses are efficient, it will be a good thing for the economy. If they are as inefficient as K-mart, then they will go down the tubes as well.

The suppliers can move their supplies to a different store. Take Martha Stewart for example, with a bankruptcy she is now free to take her line of quality goods anywhere she wants. She is no longer castrated by K-marts inefficiency. Sears, Wal-Mart, Shop-Co, Target, etc are all posibilities. She may do much better at a different location. Thus the suppliers MAY be hurt, but MAY be helped.
 
I am not surprised at the troubles KMart is having. For years now I would rather visit the dentist than enter a KMart. The stores are cluttered and frequently dirty, the service non-existent, the checkout lines long and slow. A few of my coworkers and I were discussing this at lunch today and it was amazing that we all pretty much had the same impression of them. This is the image they will have to overcome if they are to have any hope of recovery.
 
ROFL..LOLOLOLOL....I know who made them go bankrupt!!! MY BROTHER!!!! He steals from that place so many things......THEY dont have SURVEILLENCE CAMERAS.😀
 


<< ROFL..LOLOLOLOL....I know who made them go bankrupt!!! MY BROTHER!!!! He steals from that place so many things......THEY dont have SURVEILLENCE CAMERAS.😀 >>



Yes, they do. I used to work for one.
 


<< I am not surprised at the troubles KMart is having. For years now I would rather visit the dentist than enter a KMart. The stores are cluttered and frequently dirty, the service non-existent, the checkout lines long and slow. A few of my coworkers and I were discussing this at lunch today and it was amazing that we all pretty much had the same impression of them. This is the image they will have to overcome if they are to have any hope of recovery. >>



What's more amazing is the universality of that perception. I feel exactly the same way about K-mart, and yet I'm probably thousands of miles from you (I'm in Alaska) and have never set foot in the same K-mart as you. How the hell did they manage to make *all* their stores so low class? I too can barely stand setting foot in the place. Only cheap, cheap, cheap shoes kept me coming back on any kind of a regular basis (I have kids).
 


<<

<< ROFL..LOLOLOLOL....I know who made them go bankrupt!!! MY BROTHER!!!! He steals from that place so many things......THEY dont have SURVEILLENCE CAMERAS.😀 >>



Yes, they do. I used to work for one. >>





Well well well...talk about sleeping on the job...ey?😀
 
We have a nice SuperK near me here, and it is much better and less ghetto than the Walmart. But then again, back home in Chicago the Walmart is nicer and Kmart sucks more.

I'm looking forward to perhaps some good deals at the local SuperK.
 
Gee, I think I'll be original and express my opinions on Wal-Mart and K-Mart being dirty places with poor service when the discussion is about K-Mart going bankrupt and the effects it may or may not have on the economy.
 


<< Gee, I think I'll be original and express my opinions on Wal-Mart and K-Mart being dirty places with poor service when the discussion is about K-Mart going bankrupt and the effects it may or may not have on the economy. >>



There's plenty of WMs around that are a pig sty similar to what some Kmarts are...I guess they've got the lemmings (customers) so brainwashed that they don't notice.
 
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