K’s Merchandise Mart is in trouble and might be forced to close if this story is right:
DECATUR - A Monday deadline looms for a committee created to examine the books in the hopes of saving the financially troubled K's Merchandise Mart Inc.Will K’s closing -if it closes- make much difference here in Springfield? I’ll admit I rarely go in the place anymore. Part of that is convenience; the far west side stores are just closer to where I live. Still, I’m not sure K’s stands out as a great place to shop anymore. Nothing against them (I even worked at the Springfield K’s store briefly years ago), I just think they won’t be missed all that much with all the other retail opportunities available to shoppers.
The Decatur-based chain - its Web site lists 17 stores in Illinois, Indiana, Iowa, Missouri and Kentucky - already has sailed close to the edge of bankruptcy. Now its fate rests on whether creditors and a new company effectively running K's can work out a deal that will save it. If not, bankruptcy and shutdown loom.