K mart agreed to sell its two cafeteria operations.
- Share via
The nation’s second-largest retailer said it has agreed to sell Furr’s Cafeterias and Bishop Buffets to Cavalcade Holdings of Lubbock, Tex., for $237.5 million in cash. The company said proceeds from the sale would be used to redeem some high-interest, long-term debt. K mart also has decided to sell or close its unprofitable Designer Depot stores, an off-price specialty-apparel chain. Established by K mart in 1982, Designer Depot operates 79 stores nationwide.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.