Quote:
Originally posted by CkretCrush8
NEW YORK (CNN/Money) - Kmart Corp., the second largest discount retailer in the United States, filed for Chapter 11 bankruptcy protection Tuesday, ending weeks of speculation about the company's financial health.
read the rest of the story on www.cnn.com (under US News)
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Kmart simply couldn't compete with Target or Wal-Mart -- I suspect they didn't make much investment in trying to make their stores attractive to consumers. Personally, I like Target when I can't get my mother to go to the Navy Exchange and buy stuff.
On a side note, this bankruptcy may rock the world of Martha Stewart.
That is because Ms. Martha ("It's a good thing") relies on royalty payments from Kmart for a good part of her rather handsome living.