The Detroit Free Press reports that Kmart’s internal investigation seems to have shifted to Mark Schwartz, the company’s former president and COO, as the company attempts to determine who was to blame for its bankruptcy. Schwartz reportedly gave a three-day deposition to Kmart attorneys, who have been empowered to take such sworn testimony by the bankruptcy court.
Kmart spokesmen say that all depositions in the investigation should be complete by the end of the month.
The Free Press reports that Schwartz is a particularly intriguing subject of the investigation, since before he joined Kmart, he worked for several bankrupt companies, including a construction company, a chain of home improvement stores, and a chain of grocery stores.
Kmart spokesmen say that all depositions in the investigation should be complete by the end of the month.
The Free Press reports that Schwartz is a particularly intriguing subject of the investigation, since before he joined Kmart, he worked for several bankrupt companies, including a construction company, a chain of home improvement stores, and a chain of grocery stores.
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There also have been reports that investigators are interested in whether anyone from Kmart was in touch with Wal-Mart executives during the months leading up to its declaring bankruptcy. Since Schwartz was a 17-year veteran of Wal-Mart before he moved to Kmart, he may be answering questions about this, as well.
Ultimately, we suspect that there is more than enough blame to go around.
