Kmart in Mankato on chain's list for closing?

From staff and wire reports

Seven Minnesota Kmart stores, including one in Mankato, are on an unconfirmed list of sites the beleaguered chain may close as part of bankruptcy reorganization.

The list, which included 291 stores, was published by The Detroit Free Press last week though has not been confirmed by the company.

The list, first obtained by the Atlanta Business Chronicle, came from an anonymous source.

On Monday, Kmart denied that it has decided which stores will close.


"We are currently in the evaluation process of each store," Kmart spokeswoman Julie Fracker said.

Kmart's 2,114 stores will remain open for the present time, she said.

The Minnesota stores on the list included: Mankato, Apple Valley, Richfield, Forest Lake, Columbia Heights, Hutchinson, and Hibbing.

Kmart Corp. has said it plans to release a list by March 11 of stores to be closed.

Kmart, which is based in Troy, Mich., filed for bankruptcy in late January, after a major food distributor, Fleming Cos., cut its shipments to the company.

Kmart was behind on its weekly payments, and owed $78 million.

The company hoped to reorganize under Chapter 11 and sought protection from its creditors as it reorganized.

Kmart's bankruptcy is the largest in retail history since Federated Department Stores Inc. filed for Chapter 11 in 1990.

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