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Kmart's longest lasting logo, used from 1969 to 1990. Under the leadership of executive Harry Cunningham, S.S. Kresge Company opened the first Kmart-named store, at 27,000 square feet (2,500 square meters), which was referred to by Kresge as a "bantam" Kmart and was in fact originally intended to be a Kresge store until late in the planning process, on January 25, 1962, in San Fernando ...
The 235 properties, mainly Sears and Kmart locations, spread across the country and Puerto Rico, amounted to a total of 37.1 million square feet of space. [27] The strategy of department stores converting their real estate holdings into REITs has been well-used in the current commercial real estate environment. [27]
On June 5, 2023, it was announced that the Kmart store located at the Sunshine Mall in St. Croix would close. [49] On August 2, 2023, it was announced that the last Kmart store in New Jersey will close September 30, 2023. [50] On October 29, 2022, Sears Holdings emerged from Chapter 11 bankruptcy. [clarification needed]
A store closing sale at the Wellsville Kmart location pictured in January 2019. The store closed shortly thereafter and remained empty until a Runnings store opened at the site in 2023.
Transformco, Sears and Kmart's parent company, says it plans to close 96 more stores. The decision comes shortly after the business also announced it received $250 million in funding from lenders ...
At its peak, Kmart had well over 2,000 locations in the U.S. and was among the nation's retail giants. Kmart merged with Sears in 2005 in a deal engineered by hedge fund manager and CEO Eddie Lampert.