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In the biggest retail bankruptcy ever, Kmart filed for Chapter 11 protection today, after struggling to make payments to vendors and creditors. The move will protect Kmart from creditors while it reorganizes and works to repay debts. The company said it had secured $2 billion in debtor financing and expects to emerge from the bankruptcy protection next year.
Wow! No more Blue Light Specials........
Wow! No more Blue Light Specials........