AMERICAS DISTRESS DAILY: Kohl’s Asks Vendors for More Time

Kohl’s Corp. is asking some vendors for more time to settle invoices as the retailer adjusts its payment strategy amid efforts to execute a turnaround plan. This request comes at a challenging time for the industry, which has struggled amid tepid consumer spending and supply chain disruptions.

• Kohl’s has struggled to generate sales momentum, with quarterly revenue falling on an annual basis for more than three years.
• The discount retailer has more than $2 billion of debt, including the recent issuance of $360 million of junk bonds to meet obligations coming due this year.

In Other News:

• The debt-cutting plan ...