The Detroit Free Press reports that bankrupt Kmart Corp. is seeking a break on rent from a number of its landlords, as it looks to reduce expenses as one way of finding its way out of the red.
The company has informed some of its landlords that "absent an immediate reduction," the company will have to close specific properties. In certain cases, the reduction being sought is as much as 30 percent.
The company has informed some of its landlords that "absent an immediate reduction," the company will have to close specific properties. In certain cases, the reduction being sought is as much as 30 percent.
- KC's View:
- Betcha those landlords place calls to Bentonville and Minneapolis before responding to those threats from Kmart.
