Oleary, Christopher
May 2003
Investment Dealers' Digest;5/12/2003, Vol. 69 Issue 19, p48
Trade Publication
This article presents information about developments related to investment banking in the retail sector of the U.S. as of May 12, 2003. Kmart Corp. emerged from Chapter 11 bankruptcy protection in May 2003, 15 months after the retailer declared what was the largest bankruptcy filing in history. Kmart has closed 600 stores and fired more than 54,000 employees in that period, and said it hopes to return to profitability next year.Its board of directors named a new chairman, Edward Lampert, who is also CEO of ESL Investments Inc., a hedge fund that now owns more than 50 percent of Kmart's outstanding shares.Safeway Inc. is having trouble selling its Dominick's Finer Foods unit, which it has been trying to dump for more than six months as the unit has been a hindrance to earnings.


Related Articles

  • INVESTMENT BANKING DATABASE: Retail.  // Investment Dealers' Digest;4/28/2003, Vol. 69 Issue 17, p48 

    This article presents information related to investment banking in the retail sector of the U.S. as of April 28, 2003. Kmart Corp. has won court approval of its reorganization plans and should emerge from bankruptcy protection. The retailer, which filed Chapter 11 in January 2002, got the...

  • Kmart's Rocky Road: $1B Creditors Reject Bankruptcy Exit Plan. Young, Vicki M. // WWD: Women's Wear Daily;4/15/2003, Vol. 185 Issue 77, p1 

    Reports on the rejection of the proposed plan of Kmart Corp. to exit bankruptcy proceedings by several creditors in New York City. Importance of the timing of the exit; Terms of agreements with creditors ESL Investments Inc. and Third Avenue Trust; Challenge over the emergency motion filed by...

  • Kmart's new king maker alone in the throne. Heller, Laura // DSN Retailing Today;12/13/2004, Vol. 43 Issue 23, p5 

    Profiles Kmart executive Eddie Lampert. Number of stores represented by Lampert; Establishment of ESL Investments in 1988; Kmart's amount of revenue and investment.

  • Try, try again. Marks, Jennifer // Home Textiles Today;4/28/2003, Vol. 24 Issue 33, p16 

    Comments on the reorganization and financial conditions of the U.S.-based retailer, Kmart Corp. Emergence from chapter 11 bankruptcy; Cost reductions; Business operations; Closure of several of stores.

  • Questions Remain as Kmart Exits Ch. 11. Young, Vicki M. // WWD: Women's Wear Daily;5/7/2003, Vol. 185 Issue 93, p2 

    Reports on KMart Corp.'s efforts to rebuild its retail franchise in the U.S. after emerging from Chapter 11 bankruptcy. ESL Investments executive Edward Lampert's appointment as chairman; Challenges facing the company in regaining a foothold in the retail industry.

  • Kmart files for protection.  // Fort Worth Business Press;1/25/2002, Vol. 15 Issue 4, p2 

    Reports on Kmart Corp.'s filing of Chapter 11 bankruptcy protection. Line of credit; Restructuring at Kmart; Sales in 2000.

  • Kmart Runs Out of Options.  // Retail Merchandiser;Feb2002, Vol. 42 Issue 2, p11 

    Focuses on Kmart which filed for Chapter 11 bankruptcy protection in the United States for failing in negotiations to refinance its debt on January 22, 2002. Non-executive chairman of the board selected to serve as liaison between the directors and senior management of Kmart; Decline in store...

  • Kmart to emerge after 15 months in Chapter 11. Heller, Laura // DSN Retailing Today;5/5/2003, Vol. 42 Issue 9, p1 

    Reports on the emergence of retailer Kmart from Chapter 11 bankruptcy protection. Signing of the order approving Kmart's plan of reorganization; Belief that Kmart could have benefited from a longer reorganization period; Factors that helped sped up the court's approval of Kmart's plan;...

  • Kmart pens Chapter 11.  // Long Island Business News (7/1993 to 5/2009);1/25/2002, Vol. 49 Issue 4, p9A 

    Reports that retailer Kmart Corp. filed a Chapter 11 bankruptcy protection after speculation of solvency in the U.S.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics