retail news in context, analysis with attitude

Last week, we reported that almost a year since it filed for bankruptcy protection, Kmart has laid out more than $51 million to lawyers, financial advisors, real estate experts and accountants that are advising it.

The Detroit Free Press now reports that the federal judge overseeing Kmart’s bankruptcy has said she is “uncomfortable” with the most recent batch of bills, and has ordered that these lawyers and advisors only receive partial payment , while an outside auditor examines the fee structure to see if it is excessive.
KC's View:
It’s like a feeding frenzy out in Troy. One can only hope that some of these high priced attorneys get slapped around a little bit by the judge.