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Kmart is closing its last big-box store in the contiguous U.S., employees with the company told CBS MoneyWatch, capping the retreat of what was once America's dominant discount retailer.
Kmart’s Downfall. Troubles began as far back as 2002 when Kmart filed for Chapter 11 bankruptcy and announced it would close more than 250 of its then 2,000 stores.
Kmart store closing sale in Gillette, Wyoming (store #4863) in 2018; this location is now Hobby Lobby, Ulta Beauty, Shoe Dept. Encore and Harbor Freight Tools. On May 21, 2018, Sears Holdings announced yet another round of liquidation sales in forty Sears and Kmart stores across 24 states. [151] These stores were closed by July 4, 2018.
By 1976, Kmart had expanded to 1,206 locations and over 2,000 stores by 1981. But by the early 2000s, the company started to falter. It filed for bankruptcy in 2002 and closed 293 stores.
Kmart, once one of America’s leading discount retailers, is closing its last full-size store in the mainland United States. The store, in Bridgehampton, New York, on Long Island, is due to close ...
In 1996, the parent company decided to close all remaining stores, but Thom McAn footwear is available in Kmart stores. [69] Today's Man – a men's suiting store that began in the 1970s and expanded rapidly in the 1980s and 90s. Overexpansion brought the brand to bankruptcy in 1996. [70]
Kresge's and S. S. Kresge (incorporated in 1899), [257] later K-Mart Corporation (headquartered in Troy), then Sears Holdings Corporation is frequently credited with invention of the modern discount department store with the opening of Kmart in 1962. The last Kresge's store in Livonia, Michigan closed in 1987. The chain operated over 2,000 ...
Longtime discount retailer Kmart has reached its end of days, as the last full-size store on the U.S. mainland is officially closing. The final Kmart store has stood in Bridgehampton, New York ...