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28th video of the Behind the Business Series.
Kmart is an American retail department store chain in the US. The chain purchased Sears for billion in 2005, forming a new company under the name Sears Holdings Corporation.
The Kmart name was incorporated much earlier by Sebastian Kresge, but the first Kmart store didn’t open its doors until 1962. Although initially innovative, Kmart quickly went into decline after Kresge’s death. Today, the Kmart company is once again near the verge of bankruptcy, closing more and more retail stores alongside its companion, Sears. Currently, Kmart has only 624 stores remaining, with more to be closed soon.
Under the kind patronage of Samuel Patterson.