NEW YORK — The hedge-fund investors who will own the majority of Kmart Corp.after its bankruptcy may be prodding the store and its real estate assets in some unconventional directions. This comes as the discounter said Monday it was shedding 660 jobs.
Sources close to the financial team funding Kmart’s exit from bankruptcy proceedings — ESL Investments and Third Avenue Value Fund, who together will own more than 50 percent of reorganized Kmart — told WWD that the two funds were investing in the discounter to take advantage of its real estate holdings.
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?"