Kresge quickly expanded his reach over the next decade under the name the S.S. Kresge Company and, by 1912, had 85 stores around the US.
The first official Kmart opened in Garden City, Michigan, in 1962. That same year, 17 additional stores opened around the US.
Only four years later, in 1966, 162 Kmart stores were located in towns and cities nationwide and quickly began to form one of the country’s largest discount retailers.
In 1977, S.S. Kresge Company officially changed its name to K Mart Corporation.
By the 1990s, Kmart had 2,300 stores around the US, with 350,000 employees.
However, K Mart Corporation filed for Chapter 11 bankruptcy protection in 2002 and merged with Sears Holdings in 2005.
Sears Holdings filed for Chapter 11 bankruptcy in 2018.
The Illinois-based investment holding company Transform Holdco LLC, also known as Transformco, has owned Kmart and Sears since acquiring Sears Holdings assets in 2019.
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Publish date : 2024-09-22 19:45:00
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