Supermarket & Grocery Industry News

DALLAS - Fleming announced on Thursday that it has been named a "critical vendor" to Kmart by the U.S. Bankruptcy Court and that $76 million of Fleming's pre-petition merchandise receivables claim will be paid by Kmart today.

NEW YORK - Wal-Mart Stores Inc. is on pace to record more than $220 billion in revenue for the 2001 fiscal year, which would make it the world's largest company according to Fortune magazine's annual list, The Associated Press reports.

NEW YORK - The news that Fleming Cos., Kmart's major food distributor, had decided on Monday to halt shipments after the retailer failed to pay its weekly bill was the final nail in the coffin for Kmart, which filed for bankruptcy protection on Tuesday, according to a report published by Retail Merchandiser magazine.

NEW YORK - This year's Store-Specific Merchandising and Marketing Conference -- being held April 10-12 at Disney's Grand Floridian Hotel in Orlando, Fla. -- is entitled, "Connecting with the New Consumer."

TROY, Mich. - Kmart Corp. announced today that the company and 37 of its U.S. subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code.

TROY, Mich. - Kmart Corporation today announced that James B. Adamson has been elected non-executive chairman of the board of directors effective immediately, and will serve as the principal liaison between the board and the company's senior management.

CHICAGO - The Kmart Corp. board of directors met on Tuesday to discuss financial options, possibly even bankruptcy, as the company's stock closed near a 34-year low, Reuters reports.

WASHINGTON - When it comes to value, American consumers believe food offers the biggest bang for their buck, according to a new survey conducted by the polling company for the Grocery Manufacturers of America (GMA).