kmart/sears

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Title: kmart/sears

Essay Details:

Subject: Business

Author: Lawrence W

Date: June 5, 2012

Level: University

Grade: A

Length: 6 / 1572

Essay text:

This was in stark contrast to nearly a century of stellar results that Sears had comfortably enjoyed. For Sears, something needed to be done, and fast! January 22, 2002 Kmart filed bankruptcy, closed nearly 600 stores and fired 57,000 employees, with $17 billion in assets, is the biggest ever for an U.S. retailer. Decline in the company's liquidity resulting from its below-plan sales and earnings performance in the 2001 fourth quarter. The evaporation of the surety bond market, and an erosion of supplier confidence, as well as intense competition in the discount retailing industry, unsuccessful sales and marketing initiatives, the continuing recession, and capital market volatility...

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