Is Kmart Going Out of Business?

kmart-going-out-business Credit: Mike Kalasnik/CC BY-SA 2.0

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.

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.