Kmart emergence delayed
By Staff -- Home Textiles Today, 4/16/2003 2:54:00 PM
Chicago — A federal bankruptcy court judge has continued until Monday, Kmart's confirmation hearing on its reorganization plan. The continuance will probably delay the retailer's emergence from bankruptcy past its hoped-for April 30 deadline.
Judge Susan Pierson Sonderby said the hearing would resume Monday afternoon and that the court would work day-to-day thereafter to resolve 175 objections to the plan.
Kmart has been in Chapter 11 for 15 months.
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