Kmart Will Close 16 California Stores
Kmart will close 16 California stores as part of a company-wide scale-back that will shutter 284 Kmarts nationwide, the company announced. The Troy, Mich.-based discounter sought Chapter 11 bankruptcy protection in January. The company also announced the appointment of turnaround specialist James Adamson as chief executive officer following the resignation of former CEO Charles Conaway.
