Kmart Reorganization Effort Backed With $2 Bil. Loan
This article was originally published in The Tan Sheet
Executive Summary
Kmart will finance a "fast-tracked" reorganization effort under Chapter 11 bankruptcy protection with a $2 bil. financing facility, the Troy, Mich. retailer announced Jan. 22
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Kmart reorganization
President & COO Julian Day began overseeing Food & Consumables business effective June 3; William Underwood, 61, will return to Kmart to serve in newly created position of exec VP-Kmart Sourcing & Global Operations. In his new role, Underwood "will have responsibility for Kmart's sourcing operations worldwide including product specification and quality assurance, and vendor relations," retailer says. Underwood first joined Kmart in 1962 and held various leadership roles before retiring in 1999. He has returned to help firm reorganize after it filed for Chapter 11 protection (1"The Tan Sheet" Jan. 28, 2002, p. 9)...
Kmart reorganization
President & COO Julian Day began overseeing Food & Consumables business effective June 3; William Underwood, 61, will return to Kmart to serve in newly created position of exec VP-Kmart Sourcing & Global Operations. In his new role, Underwood "will have responsibility for Kmart's sourcing operations worldwide including product specification and quality assurance, and vendor relations," retailer says. Underwood first joined Kmart in 1962 and held various leadership roles before retiring in 1999. He has returned to help firm reorganize after it filed for Chapter 11 protection (1"The Tan Sheet" Jan. 28, 2002, p. 9)...
Kmart reorganization
President & COO Julian Day began overseeing Food & Consumables business effective June 3; William Underwood, 61, will return to Kmart to serve in newly created position of exec VP-Kmart Sourcing & Global Operations. In his new role, Underwood "will have responsibility for Kmart's sourcing operations worldwide including product specification and quality assurance, and vendor relations," retailer says. Underwood first joined Kmart in 1962 and held various leadership roles before retiring in 1999. He has returned to help firm reorganize after it filed for Chapter 11 protection (1"The Tan Sheet" Jan. 28, 2002, p. 9)...