Kmart is closing its last Michigan store; will have only a handful of US locations by year's end

[brooklynite]

CNN

New York (CNN Business)Kmart is shuttering its last-remaining store in Michigan, the state where the once-proud retail chain launched in 1899. It's one of series of store closings that will leave the company with only six locations in the continental United States still in business by year's end.

Kmart is owned by Sears, which purchased the chain out of bankruptcy in 2005. There were 2,100 Kmart locations at the time of its 2002 bankruptcy filing, and 1,400 when it was purchased by Sears. The combined company, Sears Holdings, itself filed for bankruptcy in 2018, and although it survived that process, it has since been closing stores under both brands in what retail experts describe as a "slow-motion liquidation."

"Obviously they are all going to be gone shortly," said Mark Cohen, director of retail studies at Columbia University. "This movie has ended, and we're watching the credits roll endlessly."

Cohen said that there is no sense in rebranding the handful of remaining Kmart stores with the Sears name, as it would cost money to put up new signage, and the Sears brand would do little to attract more customers.

[wcmagumba]

1. I remember the first Kmart that opened in Wichita sometime in the mid 60s...

I was a kid growing up in a small town about 30 miles away and my parents took us there. I remember being fascinated by the "blue light specials" that popped up around the store on a little cart they pushed around, changing them every 20 minutes or so....That location was torn down probably 40 or more years ago...

[TlalocW]

4. I also grew up in a small town about 30 miles away from Wichita

Wasn't born until 1972, but Kmart and TG&Y were regular stops when we ventured into "the big city." It's kind of a weird end of an era. Unfortunately for Sears, an Ayn Rand-worshiper, Eddie Lampert, became its CEO and decided to make different departments at the corporate ladder compete for resources ala objectivism, and now they're barely hanging on, still recovering from his insane leadership, and in keeping with his Randian mindset, he's now doing whatever he can to benefit from its downfall.

TlalocW

[sabbat hunter]

2. Lampert is

Slowly winding down both Sears and Kmart. He never cared about their retail business, only their real estate. He has made hundreds of millions, while Kmart/Sears has lost hundreds of millions.

I expect the last of the KMart/Sears stores will all be shut by 3Q 2022 at the latest.

[MustLoveBeagles]

3. Mom worked at one for most of the 80's

It started out well and they changed management. Then it became hell on earth.

[alphafemale]

5. good riddance.

And K-Mart and Sears sucking is not a recent thing.

Been circling the drain for well over 40 years.

I remember check out lines that seemed to last an eternity at both places for no discernible reason other other than a combination of ineptitude and apathy.