KMART TO CLOSE 284 STORES, AX 22,000 JOBS according to this Reuters article.
Discount chain Kmart Corp. (KM.N) said on Friday it will close 13 percent of its stores and cut nearly 9 percent of its work force as part of its reorganization under bankruptcy protection, resulting in a charge of $1.1 billion to $1.3 billion.
In late January, Instapundit.com had all sorts of good links and comments about Kmart. Check out this archive and start scrolling down to read just how groups of customers Kmart has managed to p.o. And then click over to Siloh Butcher’s Web log (which Instapundit also mentions) for her brilliant rebuttle (including a great Tom Wolfe reference) to a Wal-Mart bashing San Francisco Chronical columnist. My favorite quote however, is this one, from from Eve Kayden’s Blog:
“Amazon makes money as Kmart files for bankruptcy. Did I fall asleep and wake up in an alternate universe?”