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.
Kmart has based its image on great prices and much accessible location that are convenient to the consumer. Kmart has even made buying from Kmart easier by launching their website, Bluelight.com, in which people can order their goods online. With the launch of their website, it has added more convenience fro their consumers. Unfortunately their competitors have had the same idea.
Wal-Mart and Target stores have taken what Kmart has and improved on it. They offer larger stores with more selection, value and service. They have also launched online website in which to sell their products.
Kmart is now having a slew of problems. Many suppliers have stopped shipping products to Kmart stores because Kmart has failed to pay its bills. With this happening, they will not be able to service its customers. They will not be able to have stock from which their customer can choose. This will most likely discourage shopping at Kmart and encourage people to shop at Kmart's rivals. With out the right tools and supplies Kmart will not be able to operate correctly and thus will cause its downfall.
Kmart is also under pressure for their out look of consumers. They advertise "Always Bluelight" specials, hoping to woo more potential customer from Wal-Mart, but...