KMART Files Chapter 11 Bankruptcy

CkretCrush8 · #1 01-22-2002, 02:17 PM

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)

Honeykiss1974 · #2 01-22-2002, 02:23 PM

I'm not suprised. I can't remember the last time I went to K-mart. I myself am a Target girl.

CkretCrush8 · #3 01-22-2002, 02:36 PM

I love Target as well....I like Walmart as well. I rarely, very rarely shop at Kmart.

2DISCRETE4U · #4 01-22-2002, 03:13 PM

I can't really say the last time I've been in KMart either. Where I live there is a KMart and Target right next to each other and from going into both, you can really see the difference of the quality in them. I prefer to shop at Target....or a Super WalMart when I can find one!

AKA2D '91 · #5 01-22-2002, 03:28 PM

I'm not surprised either. Kmart NEVER seemed to have any of the items they advertised in their circulars.

The stores I visited always seemed "dusty".

I prefer Wal-mart...especially SUPER Wal-mart.

NOWorNEVER · #6 01-22-2002, 03:37 PM

...cause Wal-Mart is where it's at!!!

Sugar_N_Spice · #7 01-22-2002, 04:31 PM

Quote:

Originally posted by Honeykiss1974
I'm not suprised. I can't remember the last time I went to K-mart. I myself am a Target girl.

Girl, me too. The K-Mart by my house is ALWAYS janky-looking; you can't find nothing in there (heck, you can barely walk through the ailes (sp?) w/ out stepping or tripping over something...

Target, on the other hand, has [i]everything[i/] on sale! I get things from there that cost almost twice as much at Sav-on

, such as Thera Flu, Clean & Clear Face wash, etc.

RxyChrldr · #8 01-22-2002, 04:40 PM

although I think WalMart is fun...I don't buy things there because they do not support Public Schools, and that's a no-no as far as i'm concerned!

Honeykiss1974 · #9 01-22-2002, 04:48 PM

Quote:

Originally posted by RxyChrldr
although I think WalMart is fun...I don't buy things there because they do not support Public Schools, and that's a no-no as far as i'm concerned!

OH MY!!!

I did not know that! Where could I obtain more info about this?

KappaStargirl · #10 01-22-2002, 04:49 PM

I hate Wal-Mart...every time I go in there I feel like I need to take a bath when I leave. It's always dark and dirty and totally disorganized. I felt the same way about Kmart, too. I LOVE Target, it's always bright and clean and easy to find stuff.

Other reason why Wal-Mart is evil: they push their views/morals on consumers. If they think a t-shirt might have an offensive message, or if they deem an album's cover art to be "inappropriate," they won't stock it. Who are they to say what's right and "appropriate?" Stock the damn thing, and if I deem it offensive I won't buy it.

fine by design · #11 01-22-2002, 05:22 PM

K-mart has been steadily declining in quality over the years. I remember when i was little, all i wanted to do was run up and down the aisles and pick out toys to take home, or go outside and ride the little bumper cars or buckin' bronco.

nowadays, you'll be lucky to find a K-mart with ANYTHING inside that you'd actually want in your home. I agree with AKA2D '91 - the products are dusty. I'm currently addicted to Wal-Mart, but i'd like to know more about this public school issue. I can always drive an extra block for Target.

But get this... a K-Mart in my area has the razor / shaving needs section in a glass case and LOCKED UP!

I have never seen anything like that before in my life. When i asked an employee what was going on, she replied, "most K-marts have their razors like this." I was completely disgusted and left the store.

RxyChrldr · #12 01-22-2002, 05:23 PM

Quote:

Originally posted by Honeykiss1974

OH MY!!!
I did not know that! Where could I obtain more info about this?

I did a brief search, and found some information on this website: http://home.earthlink.net/~mantonucc.../Vouchers.html
NBI 73 says “That the NEA Executive Committee explore initiating a boycott of Walmart
Corporation. That NEA inform its members and Walmart Corporation about the actions of
Walmart Corporation that conflict with NEA’s strategic focus, such as: financial support of
voucher initiatives, the privatization of education, payroll protection, unfriendly charter
school initiatives, removal of products that support opportunities for women and girls, and
refusal to carry the prescription contraceptive Preven.”

(NEA is the National Education Assoc.) The big killer is the financial support Walmart provides to voucher initiatives...

Steeltrap · #13 01-22-2002, 05:54 PM

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)

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.

Nquisitive · #14 01-22-2002, 09:17 PM

"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."

I was thinking the same thing as well. Until I saw this on the Washington Post website.

"In bids to bolster sagging sales in recent years, it began marketing Martha Stewart housewares items and even resurrected the "Flashing BlueLight Specials" from the 1980s. But those efforts have done little to turn the tide, and Stewart’s contract with Kmart allows her to withdraw in the event of bankruptcy. Martha Stewart officials could not be reached for immediate comment today. "

AKA2D '91 · #15 01-22-2002, 11:09 PM

I am a Teacher, and I also am active with my union. I don't know NATIONALLY what's going on, but I know LOCALLY, Wal-mart is very, very supportive of schools in this area. Wal-mart, locally, supports the training of our handicapped individuals and eventually hires them after they have graduated from high school.

Also, Wal-mart/Sam's in the past with my school alone has supported fundraising efforts of groups and organizations within the school by matching whatever profits received. I for one, benefitted from that because my group held a car wash and made plenty of bucks...and wal-mart match that! Also, every Monday I take my kids there to shop. So if there was an "issue" I'm sure that my supervisors wouldn't have us patronizing them.

So I don't know what's up with the NEA, but our JFT (local union) hasn't mentioned anything about a boycott. Why should they? When Wal-mart is supporting our efforts?