Paper: Kmart to close 291 stores
Feb 13, 2002 12:00 PM, Staff and wire reports
Citing a list of "unknown origin," The Detroit Free Press reported Tuesday that Kmart Corp. plans to close 291 stores across the country as part of its ongoing bankruptcy reorganization.
Although the Troy, Mich.-based retailer refuses to provide details on regarding any planned store closings, the newspaper published a list of all 291 stores.
That list can be accessed at www.freeep.com/money/business/kmart_stores.htm.
Kmart, which has announced plans to emerge from bankruptcy in 2003, says it is reviewing the profitability of its 2,100 stores. The retailer's top attorney acknowledged last month that Kmart plans to close money-losing locations. Kmart plans to reveal details of that plan at a bankruptcy court hearing March 20. Some Wall Street analysts have predicted Kmart could eventually shutter between 250 and 500 stores.
-- Staff and wire reports
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