Published reports say that Fleming Cos. is considering filing for bankruptcy protection, and that a decision will be made shortly.
As reported on MNB last Friday, Fleming Cos. also is talking to its vendors about "near-term liquidity constraints,” and is looking for alternative financing.
The company has been reeling since its supply agreement with Kmart Corp. was cut short, and is under investigation by the US Securities and Exchange Commission (SEC) for possible accounting irregularities.
As reported on MNB last Friday, Fleming Cos. also is talking to its vendors about "near-term liquidity constraints,” and is looking for alternative financing.
The company has been reeling since its supply agreement with Kmart Corp. was cut short, and is under investigation by the US Securities and Exchange Commission (SEC) for possible accounting irregularities.
- KC's View:
- We also said last Friday that Fleming ought to be going into bankruptcy protection just about the time that Kmart emerges from it. We probably were wrong on that…there may be an overlap, as Fleming is likely to make the filing by the end of the week.
