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Posted: 1/21/2002 5:02:35 PM EDT
WooHoo! I think our pals at Kmart is going down the tubes. F'em! ==================================================================== [url]http://www.kfwb.com/news/nat/n012109.html[/url] Food Distributor Halts Shipments to Kmart DALLAS (AP) 1.21.02, 2:30p -- A major food distributor said Monday that it has cut off most shipments to Kmart after the troubled discounter failed to make its regular weekly payment for deliveries. Fleming Cos. said Kmart, its largest customer, owes $78 million. Kmart chief executive Charles Conaway said the company was negotiating a plan to resume shipments from Fleming, once Kmart officials work through "financial issues and are able to provide Fleming with adequate assurance of payment." Kmart's credit rating and stock plunged this month after the company said it did no better than break even in 2001, blaming disappointing holiday sales. It also said it was in discussions with its lenders about financing. Fleming, the nation's second-largest wholesale food distributor behind Supervalu, supplies about 3,000 supermarkets, 6,800 convenience stores and 2,000 mass merchandisers. It has been Kmart's exclusive distributor for food and other consumables since February after winning a deal valued at $4.5 billion. Just a week ago, Fleming said its relationship with Kmart was strong. But this week, the company said it has stopped all shipments except some perishable food that was already en route to Kmart stores and Super Kmarts. Last week, Kmart removed its president and named turnaround specialist James Adamson as its chairman. The changes were in an effort to gain confidence of lenders, suppliers and investors, but some remain worried. In the Jan. 28 issue of Newsweek, Martha Stewart said Kmart's troubles pose problems for her brand of household goods, which are sold exclusively at Kmart. The Martha Stewart brand is Kmart's largest volume-producing line, generating $1.5 billion in sales last year.
Link Posted: 1/21/2002 5:11:11 PM EDT
My father-in-law drives a truck here in Az. He was taking a load to K-Fart when the boss called and told him to bring it back because they were afraid they couldn't pay the bills...ha ha
Link Posted: 1/21/2002 5:15:23 PM EDT
Link Posted: 1/21/2002 5:17:35 PM EDT
All the vendors that service my store have told me that K Mart deliveries are OFF!!!
Link Posted: 1/21/2002 8:43:03 PM EDT
i just got a job with flemming.
Link Posted: 1/21/2002 9:32:25 PM EDT
Unfortunately the bastards will survive after closing only a few hundred stores. Rosie O' Swine really helped the, huh?! One of my grocery stores told me earlier today that Pepsi had cut them off. Then I heard Flemming. Sure hope my local store gets the ax. Looser management team. The little punk that ran their gun department is currently on trial for murdering his wife and their "friend". Shaved his head but left hair in two small circles where he claimed his horns were growing!!! I fired the zeros as a customer last year. Got tired of their crap and waiting 3 months to be paid. Screw K-mart!!
Link Posted: 1/22/2002 1:34:37 AM EDT
What's Kmart want with a bunch of auto sears?
Link Posted: 1/22/2002 1:54:33 AM EDT
So that leaves us with Wal-Mart and Target stores which does not even sell ammo anymore. Yea just keep up the bitching and boycotting they will all close.
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