Kmart, one of many discount chains had filed for bankruptcy. They have been known for their great value and convenience. With fierce competition form rivals such as Wal-Mart and Target, Kmart has seen its market share plummet. Wal-Marts and Targets are starting to grow larger and larger offering even more value and convenience that Kmart is unable to keep up and has suffered. They have relied on consistency and their operations to succeed in the past, but now seems they may need more than just reorganization to get back on track.
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