ndoubtedly furthering the negative connotation. It was done away with, however it left its mark. Because the blue light special and low prices were the core of Kmart's positioning strategy, the image of "cheap, cheesy and low quality" stuck with the company .
             In combination with this rising negative attitude towards Kmart was a growing recession that slowed consumer spending in the late 90's. As competition became fierce with giants like Wal-Mart and Target gaining ground, Kmart began to lose its footing. It became apparent to most that focusing solely on price cuts was not going to work anymore in this highly competitive industry. Unfortunately for Kmart, they made this realization a little too late. All of this culminated in a steady decrease in revenues for the company, forcing Kmart to petition for Chapter 11 bankruptcy protection on January 22, 2002 . This particular type of bankruptcy is a petition to the bankruptcy courts to give an organization the c
             ...