Small Business Resources, Business Advice and Forms from AllBusiness.com
 

Kmart Corp. (Business Briefs).

Publication: Food & Drink Weekly
Date: Monday, February 18 2002

Kmart Corp. is seeking an emergency order from a bankruptcy judge so it can pay companies that supply its stores with alcohol. The nation's third biggest discount retailer filed for federal Chapter 11 bankruptcy protection January 22. That was after disappointing holiday sales and fourth-quarter

earnings, downgrades by credit-rating agencies and a stock dive.

Several liquor suppliers have stopped delivering to Kmart, according to recent court filings cited by The Detroit News. As many as 100 alcohol vendors may stop shipments within days, the filing said. As a result, Kmart has asked for an emergency order authorizing it to pay select liquor suppliers. Other vendors, including Sara Lee Corp., Pepsi bottlers and Frito-Lay Inc. say Kmart is dragging its feet on their outstanding bills and have asked the court to clarify when their debts will be settled. Kmart already has received court approval to pay other critical vendors, including its egg and milk suppliers and Handleman Co., its sole music vendor.

In addition, make sure to read these articles:

  • USG Corporation Files Plan of Reorganization and Disclosure Statement.
  • CHICAGO -- USG Corporation (NYSE:USG) announced that today it has filed with the Bankruptcy Court in Delaware a Joint Plan of Reorganization and an ......
  • Digital Teleport Gets Bankruptcy Court Approval on Contract Settlements; Claim Filing...
  • Business Editors ST. LOUIS--(BUSINESS WIRE)--April 23, 2002 Digital Teleport Inc. announced that a U. S. Bankruptcy Court Judge today approved four more major contract settlements ......
  • Digital Teleport Gets Bankruptcy Court Approval on Contract Settlements.
  • Business Editors, High-Tech Writers ST. LOUIS--(BUSINESS WIRE)--March 22, 2002 Digital Teleport Inc. today announced that a federal bankruptcy judge has approved two major contract settlements ......
  • Dressing for success.
  • As in the old adage "Clothes make the man," uniforms have made Donald Pollard Sr. successful. Pollard's Houston-based company, Uniforms Plus Inc., specializes in designing ......
  • Winn-Dixie Deal Snafu Sends Indiana's Buehler Foods Into Chapter 11
  • JASPER, Ind. -- Buehler Foods Inc., which owns more than 60 grocery stores in five states under the Buehler's Market and Buy*Low banners, filed for ......
  • Canadian Food Regulators Give Olestra A Thumbs Down.
  • A fat substitute used in popular snack foods was rejected by a Canadian food regulatory agency, making the United States the only country to approve ......
  • Kmart Seeks Court Order to Sell Booze
  • Kmart Corp. is seeking an emergency order so it can pay companies that supply its stores with alcohol.
  • Jobs are in the bag
  • Frito-Lay Inc.'s manufacturing plant in West Manchester Township, York County, will add between 40 and 50 workers and spend about $15 million to begin making ......
  • GRAPEVINE: News About People.
  • Steven Reinemund, chairman and CEO of Frito-Lay, Inc., will be promoted to president of PepsiCo, Inc. He will partner with PepsiCo Chairman and CEO Roger ......
  • Frito-Lay, Inc.
  • Frito-Lay, Inc., Plano, Texas, will require its hundreds of contract farmers to grow corn that has not been genetically modified in case U.S. consumers shun ......
  • y Frito-Lay Inc.
  • "We take a consumer-centric approach, which is a change in philosophy from the '90s when we talked about managing categories," said Mike Marino, vice president, ......
  • CHAIRMAN'S COLUMN.
  • And the winners are... Dear SFA members, Congratulations on a very successful Routing for Dollars Display Contest! This contest, sponsored annually by SFA and the ......
  • Handleman Does Not Expect Kmart Product Returns
  • Record-label executives do not have to fear product returns as a result of Kmart's announcement that it will close an additional 326 stores as part ......
  • Frito-Lay Inc.
  • Stephen F. Quinn, formerly chief marketing officer for Frito-Lay Inc. North America, joins Wal-Mart Stores, Bentonville, Ark., as senior vice president--marketing. In his new role, ......
  • Kmart Bankruptcy Leaves Handleman On The Hook
  • Kmart Corp. filed for chapter 11 bankruptcy reorganization yesterday, leaving distributor Handleman Co. with a bill for as much as $64 million in goods already ......