- Kmart is owned by Sears Holdings, one of the 15 retailers named by S&P Global Market Intelligence as most likely to go bankrupt in 2018.
- 166 Kmart and Sears stores are expected to close by the end of April, in addition to the nearly 400 that closed in 2017.
- We visited a Kmart store in New York City to see what the store looks like while its parent company is saddled with debt and preparing for more closures.
Kmart is struggling.
Its parent company, Sears Holdings, has plans to close 166 Kmart and Sears stores by the end of April, in addition to the nearly 400 stores it closed in 2017.
In December, analysts speculated that Kmart could be in danger of shutting down entirely. Kmart faces intense competition from other discount chains and Walmart, and Sears Holdings has closed Kmart stores at a more rapid rate than its namesake stores.
We visited a Kmart store in midtown Manhattan to see what it looked like, and while there was a lot in stock, the store was disorganized and messy. This is what it was like:
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