Kmart Says Vendors Resuming Shipments
Reuters
Discount retailer Kmart Corp. said a significant number of its vendors had resumed shipments on normal payment terms, allowing the chain to operate with fewer disruptions.
Kmart, which filed a voluntary Chapter 11 bankruptcy petition last week, has received interim court approval for $2 billion in financing, some of which will be used to pay suppliers.
Shares of Troy, Mich.-based Kmart were up 31 cents, or about 34%, at $1.23 on the NYSE.
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