We will miss you k-mart..

you were always a good source for cheap hanes underwear.

So long, for now

LOL! That is funny. K-Mart is GONE! :( I think the stores will still be open for a while. Will they? Too bad!

Kmart Stores will still be open while they restructure. Cant imagine them closing all them stores. They have like 500 of them so got to say they employ probably 50,000-100,000 people. if not more. Hopefully something can get figured out or someone can bale them out of this one. The Walton kids are the 4th, 5th, 6th, and 7th richest people in America. One of them should buy Kmart out and compete against eachother :D

They are not completely gone. They will be around. They filed for bankruptcy just to cover their behind, while the restructure.

Its kinda crazy if you think about it thought.. I mean EvERYONE has a Kmart near them. First it was Bradlees now this.. Kind of sad.. There business is so bad they are selling chicken mcnuggets with a medium coke on the back page of there flyer.. I wonder if this to due to Walmart getting so big.. I have 5 Walmarts within 10 miles of me.. Talking about wanting to dominate the market huh..

Let's see ...

AOL sues Microsoft ...

Maybe KMART can sue Walmart ;-)

Well round here we got K-Mart, Wal-Mart, Target, Costco (similar), Sam's Club and probably a few more that I can't think of off the top of my head. The world only needs so many mega-stores with which to buy discounted undies in.

Speak for yourself. :-)

Originally posted by sessionmedia
We will miss you k-mart..

We?

The last time I heard the news, K-MART is filing Chapter 11, not chapter 7! It may still be around with probably 300 less stores (out of 2100+ it has right now).

cheers,
:beer:

I'll put my money on dektong's guess. K-Mart will use chapter 11 to get out of a bunch of property leases and close a few hundred nonprofitable stores, and cut back the payroll. The fact is, according to their bankruptcy filing, they still have more assets than debt. Things are definitely shaky, but I'd expect there to still be K-Mart stores.

To some extent, this is bad timing... K-Mart's financial position has been shaky for a while, and they've had to use surety bonds to stay in operation. Enron's demise resulted in insurance companies -- who got burned big by Enron -- instituting big hikes in those bond rates -- effectively pushing them out of K-Mart's reach. If not for Enron, K-Mart wouldn't have run the cash reserves down to the point where they couldn't pay their suppliers, which is what finally brought about the final need to file for bankruptcy protection from creditors.

Well look at this...

Loews Cineplex

(Loews Theatres, Sony Theatres, Cineplex Odeon, Sony IMAX, Magic Johnson Theatres, and the rest owned by Loews Cineplex Entertainment)

Filed For Bankrupcy This Year....But they are now turning profitable without laying off one person and while buying and building new theatres....just because a company files for bankrupcy doesent mean that they are going to close...I bet none of you even noticed that Loews was bankrupt or that they filed for Chapter 11?

CNBC pointed out that the track record of "retail chains" emerging from chapter 11 is not good. They mentioned Federated and Grand Union as exceptions, but what happened to Montgomery Ward after years in chapter 11 is much more likely.

Originally posted by sessionmedia
We will miss you k-mart..
We will ?

We have Big K-Marts and Super Wal Mart withing 2 miles of our place, go into both stores and you will see why one is thriving over the other

KMart had it coming for a few years now, they onyl employ teenagers that coudl care less about the job or the client, while walmart employs old folks who make you feel very confortable, and very helpfull. (and I mean OLD folks .. not 40, not 50 .. err, not even 60 :D OLD ) ..

Originally posted by onthecatwalk
I bet none of you even noticed that Loews was bankrupt or that they filed for Chapter 11?

I did know, as they were building new theaters by me, which both had to be shut down..

was this this year or a few years ago when Sony bought them....they didn't stop any projects because of the Bankrupcy problem, at least not to my knowedge (seince I worked for them a few years ago I have many friends in corperate)

but the wired thing...they were bankrupt but they are/ were #1 in the business

Chicken, you have the exact same discount megastores as me! In about my 10 mile radius, I have one SuperTarget. There used to be a regular Target. We have three Wal Mart's and one of those super Wal Mart's. There is a CostCo Wholesale store. There are also two Sam's Clubs. Big KMart is also around here. They are everywhere. There are just too many.

I like K-Mart..but I liked it better years ago...it was better..it got better now, but it was way better then!

K-Mart is not leaving. They're only closing certain stores. kmart is going to stay open watch your news :).

You know some countries don't have Walmart, Costco, Target or even Toys "R" Us :)

I don't know if thats a good thing or not hehe