|
Kmart: Fall of a Retailing Giant |
ICMR HOME | Case Studies Collection
Price: For delivery in electronic format: Rs. 500; For delivery through courier (within India): Rs. 500 + Shipping & Handling Charges extra
»
Business Strategy Case Studies
Custom Search
Please note: |
||||||||
"Think of Kmart as a sick uncle. He has been coughing and wheezing for years. Now he has to have major surgery. We hope he survives the knife. But he will never be what he once was." - Tom Walsh, Free Press Columnist, January 2002. "We will emerge as a vital enterprise, focusing on providing value to our customers and our stakeholders." - Julian Day, Kmart CEO, in April 2003. Kmart Goes BustIn January 2002, leading US-based retailer Kmart filed for bankruptcy protection under Chapter 111 after it was unable to meet its payment obligations to suppliers due to severe financial problems. In that year, closures were carried out in 44 US states and Puerto Rico. Over the next one year, the total number of stores closed went up from 284 to 600, while the total number of employees laid off increased from 22,000 to 67,000.
Kmart: Fall of a Retailing Giant - Next Page>>
Custom Search
1] Organizations/individuals can file for Chapter 11 bankruptcy under US bankruptcy law to deal with financial problems of a huge magnitude. Those who file for Chapter 11 can propose a payment plan and seek approval of the same from their creditors. Chapter 11 essentially rewrites many of the contracts the debtor has with the creditors, and thereafter both parties act according to the new agreement. |
Case Studies Links:-
Case Studies,
Short Case Studies,
Simplified Case Studies.
Other Case Studies:-
Multimedia Case Studies,
Cases in Other Languages.
Business Reports Link:-
Business Reports.
Books:-
Textbooks,
Workbooks,
Case Study Volumes.