NEW YORK — Bankrupt Kmart Corp. said Monday it would restate its financial statements for the last three-and-a-half years.
None of the adjustments should impact Kmart’s liquidity or add to its obligations requiring a future use of cash, said the firm in a statement. As of this past Friday, Kmart carried $495 million of outstanding borrowings and had used $330 million of its debtor-in-position credit facility for letters of credit. DIP financing available as of Friday was $1.07 billion.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"