USA: House Panel Requests Kmart Records
The US House Energy and Commerce Committee is seeking records from bankrupt discount retailer Kmart Corp as part of an accounting probe now being carried out on 13 publicly traded companies.
The committee's investigation follows recent high profile book keeping scandals of companies such as WorldCom and Enron, and requires Troy-based Kmart to turn over information about the qualifications of their directors and the independence of its external auditors.
Kmart, which filed for federal Chapter 11 bankruptcy protection on 22 January and is in the middle of its own internal investigation, would not comment on the request.
Companies: Sears Holdings Corporation
Help test our new apparel sourcing tool.
Wal-Mart is famous for its everyday low prices. The world's largest company continues to dramatically transform the retail landscape by exploring new growth avenues, selling new categories of merchand...
Sears Holdings' Kmart subsidiary is to axe an unspecified number of workers as it revises staff levels at its 1,400 stores, according to press reports....
Up to 150,000 employees and retirees of former retailer Kmart have been awarded US$11.75m as part of a lawsuit settlement over the investment of pension funds, Associated Press reported....
Apparel maker Lands' End's president and chief executive officer is leaving the company less than two year after she took the role on....
Cut-price footwear retailer Footstar Inc has selcted 4R Systems Inc's 4R application to help them achieve the appropriate choice of case-pack design, and quantities that provide the maximum flexibilit...
Casual apparel company Levi Strauss & Co has named John Goodman as president of the US Dockers business, effective 6 June....
Sears Holdings Corp and Latina Media Ventures, which publishes Latina magazine, have signed a deal to launch an apparel, footwear and bag collection aimed at Hispanic women....
Chief executive of US department store operator JC Penney, Myron Ullman, says the company is to turn its focus to mid-income shoppers who are forming an available market niche due to mergers among its...
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- Target unveils "ambitious" store re-design plans
- Bangladesh workers call for union registration
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective