THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, June 2, 1995 TAG: 9506020526
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 21 lines
Kmart Corp. said it will close 72 poorly performing discount stores this year and eliminate about 5,800 jobs as part of its restructuring. The closings are in addition to the 120 stores closed or relocated in 1994, when the retailer eliminated about 7,100 jobs. No Virginia stores are affected by the latest announcement. The cost for the latest round of closings already had been provided for in a $1.35 billion restructuring charge recorded in the fourth quarter of 1993. The store-closings will begin in late August and run through January. (Staff and wire reports) by CNB