NEW YORK (CNN/Money) - Kmart Corp. is investigating the activities of some of its former executives, the company said at a meeting with its creditors held in Chicago Thursday.

As part of the review, the bankrupt retailer has suspended severance pay to some of the executives, a number of whom, including former Chief Executive Chuck Conaway and President Mark Schwartz, were ousted from the company earlier this year.

"The company is currently involved in a review of the stewardship of Kmart by previous management," Kmart spokesman Michael Freitag told Reuters on Thursday.

The review is expected to be completed by early September, Freitag said.

The company did not name the executives to whom it has cut off severance pay.

On Wednesday, the Troy, Mich.-based company said it is delaying filing its comprehensive financial report for the fiscal year that ended in January and warned it may restate its previous financial results.

The company said its new management team needed more time to complete an assessment of the company's accounting policies and methods.

The restated results could include a loss "significantly higher" than the $244 million loss it reported for the fiscal year ended Jan. 31, the company said.

Shares of Kmart (KM: Research, Estimates) fell 6 cents to $1.19 in New York Stock Exchange trade Thursday. The stock has fallen more than more than 91 percent over the past year from a high of $13.55.  

-- from staff and wire reports