Kmart Holding Corp. dismissed PricewaterhouseCoopers LLP as its independent auditor last week and retained BDO Seidman LLP to perform that function, according to a Securities and Exchange Commission filing released Thursday. Kmart said in the Form 8-K filing that certain PricewaterhouseCoopers reports for its predecessor company, Kmart Corp., which emerged from bankruptcy in May, “contained no adverse opinion or disclaimer of opinion and were not modified as to uncertainty, audit scope or accounting principle,” except for an “explanatory paragraph with respect to Kmart’s ability to continue as a going concern,” and that the bankruptcy court confirmed the company’s plan of reorganization, among other issues.
THE VERGE OF EMERGENCE: A hearing on Kasper ASL’s reorganization plan is now slated for Nov. 19 after a federal bankruptcy court approved a third amended plan and gave the firm the go-ahead to distribute it. Any objections to the plan must be served and filed on or before Nov. 11, and the voting deadline is a day later. Kasper, which is in the process of being acquired out of Chapter 11 by Jones Apparel Group, said its equity holders may receive some cash for their shares under the plan, but no assurance was possible due to “significant contingencies.”
BRAGGING RIGHTS: Continuing a tradition of recognizing achievements in retailing and other industries, the Black Retail Action Group will stage its annual awards dinner and scholarship fund-raiser called “Something for the Soul” Oct. 24 at the Sheraton Hotel & Towers in New York.?Business achievement awards will be presented to Terence X. Bogan, vice president and divisional merchandise manager of the women’s Co-op at Barneys New York; Jeffrey Tweedy, executive vice president of Sean John; Edward Wilkerson, design director at Lafayette 148; June Horne, designer buyer at Saks Fifth Avenue; Christine Meier, group vice president for central human resources & diversity, Macy’s East, and Everick Brown, owner and president of EB Home, who’ll receive the J.J. Thomas Young Innovators Award. Essence Magazine’s fashion director, Pamela R. Macklin, will be MC. Last year, BRAG awarded 15 scholarships to students interested in pursuing careers in retail and related industries.