KMart files for bankruptcy, what company is next?
Ever since the Enron mess, companies are starting to file for bankruptcy or going out of business. It looks like retailers are getting hit now.
KMart filed about two days ago for bankruptcy reorganization. They cannot pay their food supplier $78 Million that they owe. KMart is worth $17 Billion, must be paper-rich if they have that and still cannot pay their bills? No stores have been closed, yet.
Other retailers are filing for bankruptcy or going out of business. Service Merchandise is one of them near me, my wife liked to shop there a lot. They already have their clearance sale. Too bad I am out of work and cannot afford anything they are selling.
