USA: Fleming issues response to Kmart bankruptcy announcement
Grocery supplier Fleming responded yesterday [Tuesday] to the announcement by Kmart that it has filed for reorganization under Chapter 11 of the US Bankruptcy Code and obtained debtor-in-possession financing. Mark Hansen, chairman of the board and CEO of Fleming. commented: "First and foremost, the Kmart filing helps define the path forward in our relationship. Kmart's debtor in possession financing gives it the critical liquidity needed to fund its operations during the reorganization process, a necessary first step in resuming our relationship.
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