January 31, 2022 by David Pinto
David Pinto, Kmart
2022, Issue 01-31-2022, Issues, Opinion
As we relive American retailing history, which we occasionally do, we’re reminded that Kmart, once the largest general merchandise retailer in the United States, has dwindled a bit in size. The current store count for the former Troy, Mich., dynamo is … five. Five? That’s correct. In mid-January, Kmart’s holding company announced that it plans
October 15, 2018 by MMR
Chapter 11 bankruptcy protection, Kmart, Sears Holdings Corp.
Featured Articles, Leading Headlines, Money, Retail News
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of two storied firms that once ranked as the nation’s two largest retailers, announced Monday morning that it had filed for Chapter 11 bankruptcy. The company’s reorganization plan calls for the closure of 142 additional Sears and Kmart stores, in addition to the previously announced
June 11, 2018 by MMR
Kmart, Sears, Sears Holdings
2018, Issue 06-11-2018, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has identified 100 unprofitable stores and will shutter 63 of them in early September. Liquidation sales at 48 Sears outlets and 15 Kmarts will begin as early as June 14. The company announced the closings while reporting its first quarter results, which included a drop of more than
January 29, 2018 by MMR
Kmart, Sears, Sears Holdings
2018, Issue 01-29-2018, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has raised $100 million in new financing and is pursuing an additional $200 million. The company also amended existing notes to increase its borrowing base advance rate for inventory and defer its collateral coverage test and restart it with the second quarter of 2018. Sears Holdings furthermore is
April 17, 2017 by MMR
10-K filing, Kmart, Sears, Sears Holdings Corp., Securities and Exchange Commission
2017, Issue 04-17-2017, Issues
HOFFMAN ESTATES, Ill. — Concerns that the parent of Sears and Kmart is headed toward bankruptcy were rekindled when the company offered in a disclosure that it might not be in operation a year from now. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,”
March 22, 2017 by MMR
Kmart, Sears Holdings Corp.
Featured Articles, Leading Headlines, Retail News
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. acknowledged on Tuesday that its ongoing existence was in question. “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” the retailer noted in its annual report for the fiscal year ended January 28. In its 10-K form filed
January 9, 2017 by MMR
Kmart, Sears, Sears Holdings Corp., shuttered
2017, Issue 01-09-2017, Issues
HOFFMAN ESTATES, Ill. — There was more bad news for Sears and Kmart as Sears announced last month another round of stores to be shuttered. Employees were notified that more than 30 Sears and Kmart locations will be closed in the early part of 2017. Florida, with seven Kmart stores slated for closing, and Kentucky,
October 3, 2016 by MMR
Eddie Lampert, Kmart, Liquidation sales, Sears Holding Corp., Sears’ chief executive officer, Seritage Growth Properties
2016, Issue 10-03-2016, Issues
HOFFMAN ESTATES, Ill. — Kmart is closing another 64 underperforming stores in the United States. Liquidation sales were set to start September 22, with the stores to be shuttered by mid-December, according to Business Insider, which cited sources familiar with the plans of parent Sears Holding Corp. In April, Sears eliminated 68 Kmarts and 10
September 20, 2016 by MMR
Kmart, store closings
Featured Articles, Leading Headlines, Retail News
HOFFMAN ESTATES, Ill. — Liquidation sales are set to begin September 22 at the 64 underperforming Kmart stores in the United States that parent Sears Holdings Corp. plans to shutter by mid-December. Earlier this year Sears’ eliminated 68 Kmarts and 10 Sears stores in response to slumping sales. This latest round of closings, first reported
September 19, 2016 by MMR
Des Plaines store, Kmart
2016, Issue 09-19-2016, Issues
DES PLAINES, Ill. — Kmart has unveiled a revitalized and refreshed store here as part of an ongoing initiative to provide enhanced, new and exclusive offerings. “We are excited about the relaunch of the Des Plaines store because it exemplifies our dedication to our [Shop Your Way] members and it’s in our own backyard,” says
August 25, 2016 by MMR
Eddie Lampert, Kmart, Sears, Sears Holdings Corp.
Featured Articles, Leading Headlines, Retail News
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. posted another quarterly loss on Thursday and said it would receive another financial lifeline from the hedge fund of its chief executive officer, Eddie Lampert. Lampert’s fund, ESL Investments, offered to provide a $300 million loan to Sears earlier this month to provide the struggling retailer more time
May 23, 2016 by MMR
Kmart, Sears, Sears Holdings chief executive officer Eddie Lampert, Sears Holdings Corp.
2016, Issue 05-23-2016, Issues
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, plans to shutter 68 Kmart stores and 10 Sears stores this summer in an effort to stem financial losses. Most of the stores will be closed by late July. “The decision to close stores is a difficult but necessary step