As part of the process under Chapter 11, Kmart (NYSE: KM) is reorganizing and evaluating the performance and lease of every store.
As a result of this evaluation, Kmart has said that it will be closing a number of stores. The exact number and locations have not yet been determined. As the company said in a public statement last week, when the decision about store closings is made, it will inform its employees and make a public announcement.
The evaluation and announcement are expected to be complete by the end of Kmart's first quarter.
SOURCE: Kmart Corporation
Contact: KMart Media Relations, +1-248-463-1021