World Report: February 1, 2002 Vol.7 No.15
- This Issue:
- Table of Contents
- Cover Story
- Cover Story - Spanish Version
- Mini-Lesson
- Comprehension Quiz
- Teacher's Guide and Worksheets
Attention, Kmart Shoppers!
Last Tuesday, the blue light flickered as Kmart became the nation's largest retail store ever to file for bankruptcy. Unable to pay its bills, the company will have to borrow money and reorganize its business.
Kmart is the nation's third largest discount store. Only Wal-Mart and Target are bigger. The Big K, which is known for its "blue light specials," stocked everything from food to clothing. But last week, some store shelves stood empty. Some suppliers stopped shipping goods, fearing that Kmart couldn't pay for them.
At least 700 of the chain's 2,100 stores may close. Kmart's head, Chuck Conaway, says the company is determined to overcome its troubles and "make a fresh start."
