THE SUITOR SIDE OF SEARS MAY APPEAR AS KMART EMERGES FROM CHAPTER 11.(Sears, Roebuck rumored as possible buyer; creditors name board of directors, more layoffs)
HFN: The Weekly Newspaper for the Home Furnishing Network, April, 2003 by Young, Vicki M.
NEW YORK-The Kmart saga is getting curiouser and curiouser now that Sears has been mentioned as a suitor, if not a savior, for the troubled retailer.
Sources close to the financial team funding Kmart's exit from bankruptcy proceedings said there have been discussions of an affiliation linking Sears with Kmart soon after the discounter's exit from bankruptcy. According to the source, Sears would take over some of Kmart's store sites to house its Great Indoors concept.
"As for merger rumblings with Sears, I think that's a very likely scenario, although I don't see it as a merger of `equals,' but rather more of an acquisition of Kmart by Sears," said Ed Nakfoor, a Detroit retail consultant.
According to Nakfoor, another option is to convert...
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