Q:

Is Kmart going out of business?

A:

Quick Answer

As of 2014, the retail store Kmart is not going out of business. However, Kmart's parent company Sears Holdings Corporation closed over 100 Kmart locations starting in December 2011 and is continuing to close stores.

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Is Kmart going out of business?
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Full Answer

Sears Holdings Corporation began closing Kmart locations to make more money after a period of falling sales and deteriorating stores. The company declared in 2011 that it would no longer prop up marginally performing locations. As of early 2014, Kmart closed stores in locations in Ohio, Florida, Illinois, Minnesota, South Carolina, Wisconsin, North Carolina, New York, Missouri, Pennsylvania, New Jersey, California, Virginia and New Mexico.

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    What are Kmart store closings?

    A:

    Kmart has closed more than 300 stores since 2011, taking the total number of stores from more than 1,300 to only 979 as of January 1, 2015. The Kmart closings are part of a larger cost-saving effort from Sears Holdings, the company that owns both Kmart and Sears stores.

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