Subject:
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Re: K-Mart files for bankruptcy
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Newsgroups:
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lugnet.market.shopping
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Date:
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Tue, 22 Jan 2002 19:55:59 GMT
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Viewed:
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413 times
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In lugnet.market.shopping, David Wertz writes:
> Hey,
> I guess we saw this coming, and it is no suprise to anyone. Any thoughts on
> what this might do for us AFOL's?
> David
It may have subtle effect, tho more so at K-Marts competitors than at K-Mart
itself. Something I've noticed of recent is a habit of some WalMarts to spring a
'50% off all clearance toys' sale. They do this at unpredictable times and then
end it after several hours. I actually saw this once, and have heard first hand
accounts of it in several other stores, so my initial impression of some manager
improvising may have been wrong. Sounds a bit like a 'blue light special',
doesn't it.
My concern is that this will cast a palor over K-Mart in general. Many people do
not understand that Chapter 11 bankruptcy is reorganization, not the same as
Chapter 7 liquidation. K-Mart can still compete with WalMart, but they have much
leg work to do first. K-Mart's idea (a few years back) that they could use a
standard sized K-Mart to compete in the food market with a WalMart Super-Center
was ill conceived. They did not have the necessary floor space to do that
correctly. Now they have settled for a cut back selection of groceries, which
(assuming that the payments to the supplier resume) might still give them the
necessary traffic.
Ray
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Message has 1 Reply:
 | | Re: K-Mart files for bankruptcy
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| (...) No, even if K-Mart executives are upbeat, the rats are already deserting the ship. Normally, if there's a real chance of turning it around, the suppliers will continue making deliveries; but K-Mart's suppliers have begun to stop the chain (...) (23 years ago, 22-Jan-02, to lugnet.market.shopping)
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