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.