TROY, Mich. -- Kmart Corp. here said it had reached an agreement in principle with bondholders to sidestep the possibility of paying off $548 million in bonds as soon as next month. . If Kmart had been forced to pay off the bonds, it could have been in violation of bank loan covenants and could have been pushed into filing for Chapter 11 bankruptcy protection.
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.