Kmart’s Bankruptcy

Shania Womack, Journalist

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Is Kmart Closing?

Across the United States, over 142 Kmart and Sears stores have already been closed due to the Sears holding company filing Chapter 11 Bankruptcy. To most towns and cities this would not be such a big deal, but to the small town of Bishop, it would cause many issues because we have no other stores like Kmart to support it. With Kmart being the only store like itself in Bishop, and making so much much money from the small community, a question comes to rise. Will the Bishop Kmart be closing?

 

The short answer is no. As of this moment, Bishop’s Kmart will continue running its course. The definitive list of stores closing is being updated, maybe even at this second. Kmart is the only retail clothing store in Bishop so without Kmart most people will struggle when in the event of an emergency they need to get something, and the only way to do that will be to wait multiple days for something to be shipped here. Bishop has already lost JcPenny, so Kmart leaving would cause much uproar.

 

In order to help the company out of their $134 million debt, they decided to sign a licensing agreement with Kenmore And DieHard on November 1st.  

 

I think I speak for everyone in Bishop when I say a burden has been lifted off our shoulders. For now, Kmart is staying open.

 

Tags: Kmart, Closing, Bishop, Community, Sears, Bankruptcy, Chapter 11