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Breaking News

Kmart Files for Bankruptcy

Aired January 22, 2002 - 09:14   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JACK CAFFERTY, CNN FINANCIAL ANCHOR: Not unexpected, the Associated Press is reporting that Kmart now has filed for Chapter 11 protection under bankruptcy laws. That was the lead story in the "New York Times" this morning.

Not unexpected, as I mentioned, we've been talking about it off and on for some time now, and it's apparently official, according to AP: Kmart filing for bankruptcy.

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