USA: Sara Lee Says Kmart Woes Won't Hurt Q3 Results
Consumer goods giant Sara Lee Corporation said on Wednesday its exposure for receivables due from retail chain Kmart's bankruptcy is "immaterial". Kmart owed Sara Lee - its fifth largest customer in 2001 - around $40 million when it filed for bankruptcy last month but Sara Lee said today it entered into financial contracts prior to Kmart's bankruptcy, leaving it with no material receivables exposure.
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