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DALLAS -- Just a few months after ending its 10-year, $4.5 billion supply deal with Kmart, Fleming yesterday filed for Chapter 11 bankruptcy protection.
Many industry watchers have speculated that Fleming, riddled with debt and facing an investigation by the Securities and Exchange Commission, would be forced to file for bankruptcy after ending its agreement with Kmart. The discount retailer had accounted for 20 percent of Fleming's sales.
"Against this backdrop, it became clear that filing for Chapter 11 was the only choice that would allow us to continue operating as a going concern," stated Peter Willmott, Fleming's interim president and chief executive …