Kmart Launches New Ad Campaign

TROY, Mich. - Kmart Corp. has launched a nationwide marketing campaign aimed at redirecting customers from those stores slated to close to the next closest location, Dow Jones Newswires reports.

A bankruptcy judge granted final approval this week for 316 store closings and a $2 billion financing package.

Kmart's promotion -- called "Savings Are Here To Stay" -- is set to begin Feb. 2 and includes advertising, $150 coupon books and a chance to win a $500 shopping spree, as well as savings on pharmacy prescriptions and Eastman Kodak Co.

In a press release Thursday, Kmart said its closing stores will also distribute reward receipts -- from Feb. 2 through March 10 -- to customers who make a minimum purchase of $10, for savings at the nearby store remaining open.

Kmart filed for Chapter 11 bankruptcy protection last January and has said it expects to emerge from the process by April 30, ahead of its initial goal to exit by the middle of the year.
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