283 Kmart Stores to Close; SB Capital Group Selected to Orchestrate Liquidation
TROY, Michigan – March 20, 2002 – In preparation for the closing of 283 Kmart stores, the United States Bankruptcy Court today approved one of the largest retail store closing liquidations in U.S. history. Merchandise in excess of $1.3 billion will be liquidated.
Earlier this week, SB Capital Group was selected as part of a joint venture of liquidation agents to orchestrate this massive event. The sale event will require a force of more than 300 field executives, who are currently in place throughout Puerto Rico and the 40 states where the closing Kmart stores are located.