Q:

Is K-Mart going out of business?

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Quick Answer

K-Mart is not going out of business, as of January 2015. However, the parent company that owns K-Mart, Sears Holdings Corporation is shutting down K-Mart and Sears locations that are only performing marginally, according to Michelle Chapman and Christina Rexrode, journalists for the Huffington Post.

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Full Answer

Sears Holding’s short-term investments fell from $1.3 billion to about $700 million during 2014. However, they still have about 3,560 stores in the United States. According to Chris Isidore, a journalist for CNN, Sears Holding will close 46 K-Mart stores, and 31 Sears stores, by 2015, and eliminate over 5,300 jobs. K-Mart stores are still open and in business, but investment bank adviser Allan Ellinger indicates that Sears Holding is not giving anybody confidence that they will be around for the long term.

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