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.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus