Daily News | Only four Kmarts are left in the U.S. and two are in New Jersey
, who has turned their liquidation into a business plan. Both retailers filed for bankruptcy in 2018. Sears and Kmart stores, operating under the Transformco entity, are still controlled by Lampert and have closed en masse in recent years, leaving valuable real estate behind to be sold or redeveloped.But even as Transformco shutters Kmart stores, the discount chain lives on in Reddit, YouTube, and Facebook posts with devout followers who are nostalgic or fascinated by Kmart’s demise.
Ben Schultz, 23, was too young to have experienced Kmart’s powerful hold on American retailing. Plus, he said, “my family was more of a Target family.” In his teen years, Schultz worked at a McDonald’s in a parking lot in front of a Kmart. “On my lunch break I would wander around there [the Kmart],” he said. “There weren’t many people in there.”
“Kmart absolutely reigned supreme over the retail-discount market,” he said. “Their focus was to be America’s discount store. They essentially wanted to have a monopoly over the industry and it seemed like it was within their reach.” There was a Kmart listed in Marshall, Mich. No one answered the phone. Google showed it “permanently closed.”
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