Kmart Corp. To Close 284 Stores

Fine, Jacob
March 2002
Bond Buyer;3/11/2002, Vol. 339 Issue 31341, p1
Trade Publication
Reports that U.S.-based retail chain Kmart Corp. has announced that it intends to close over 250 underperforming stores as part of its restructuring under a bankruptcy law, thereby adversely affecting lease payments on some of the outstanding municipal bonds issued to benefit the retailer. Number of municipal bond issues sold by issuers on behalf of Kmart since 1981; Factors endangering Kmart's municipal bondholders.


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