It's official: KMart bankrupt

[fatbaby]

so no more blue light and martha stewart products?

 

[Lithium381]

What's a kmart and a walmart? I havne't been outside in a while, am i missing much? Hah, Walmarts are much more common now, i find them to be just as well, but longs drugs still has a share in the general store type of market

 

[PeeluckyDuckee]

Zellers looks more of a wreck than KMart or Walmart, its so disorganized when you walk in there. Yet Zellers manages to stay alive, while KMart has gone off the radars up here in Canada for about 4yrs now. Walmart has decent prices on some items. Before Walmart took over, we used to have WoolCo up here, anybody remember that place? I used to play SuperMario Bros on their Nintendo display systems 🙂 And Moon Palace on the Atari 2600 too 😛 Oh, how times have changed.

 

[DannyLove]

I guess Kathy Ireland is out of work. LOL

danny~!

 

[Mday]

they filed for protection, with sights of getting back on their feet in a year. they still have assets, though they cannot pay some bills.

there is no walmart or target around me... so...

and there is only one kmart in brooklyn. 2 in manhattan for some reason (very high rents)

 

[Freejack2]

Actually from what the NY Times article said, we have Enron to thank for this. When Enron went belly up all the financial people panicked. Kmart did allright last christmas, they had cash flow, things may have been a little tight for them but they were nowhere near bankruptcy. The insurance companies, creditors and whatnot started getting tough on Kmart. The thing that supposedly chewed right through their cash flow was they are required to have insurance for certain things, pension funds and whatnot if I recall correctly. These companies who were perfectly happy with the way things were before Enron suddenly wanted more substantial backing from Kmart for their insurance. By the time the financial people were done Kmart's cash flow was in the toilet. A company can be turning a profit, but without cash flow it doesn't matter.
Caldors was turning a profit but they put their cash flow in the crapper and it was curtains for them. Cash flow is the lifeblood of any big business. No cash flow, no business.
So if you want to thank anyone for this, thank Enron and idiotic financial people who can't see 5 minutes ahead.

 

[ultimatebob]

Man, this sucks! There isn't a Walmart around here, and I bought all my Snapple in bulk at the Super K-Mart. Dammit, now I'll have to join a Sam's Club or something to get a good deal on my iced tea! 🙁

 

[spanky]

<< I guess Kathy Ireland is out of work. LOL

danny~! >>




what u mean? there is always the nudie magazines...

 

[managerdan]

I think we'll all do fine without Kmart. Anything I ever needed from Kmart I could always find better shopping at the mall.

 

[Linux23]

no more Rosie O'donnel








woohoo. 🙂



seriously, i feel for all the people that may be out of a job. 🙁

 

[Alligator]

oh oh!
kmart sucks
nyeahh! nyeahh!
get my under with my name in it

 

[geekybear]

I think it was the You Check Yourself Out Express counters that put the final nail in KMart's coffin. WTF were they thinking?