Kmart filing costs $11M
February 11, 2002,
WestPoint Stevens, a major supplier of Martha Stewart products, said it took an $11 million hit when Kmart filed for Chapter 11 protection.
And the greater impact of the bankruptcy on the major mill remains unknown, said Fontenot. "We have to expect that our business will be affected going forward. But we still don't know how many stores will be closed, and that will certainly have a big impact." Fontenot emphasized that WestPoint "will continue to support Kmart as they work their way through bankruptcy."