Attention Kmart shoppers....

[Tortuga]

...the last remaining West Coast Kmart is closing...

 

https://abc7.com/kmart-store-closure-last-in-california-grass-valley-location/11358555/

[hatcheckgirl]

Wow! We have them still in all major shopping centres here. Wonder why the California ones have failed. Very popular here. 

[Qapla]

Quote

On January 22, 2002, Kmart filed for Chapter 11 bankruptcy protection 

On January 13, 2003, Kmart closed 326 stores due to a lack of profitability and poor sales.

On November 17, 2004, Kmart's management announced its intention to purchase Sears for $11 billion. As part of the merger, the Kmart Holding Corporation (the company that owns Kmart) would be transferred to the new Sears Holdings Corporation and Sears would be purchased by the new Sears Holdings Corporation

On December 27, 2011, after a disastrous holiday sales season, Sears Holdings announced that 100 to 120 of Sears and Kmart stores would close

On October 15, 2018, Sears Holdings filed Chapter 11 bankruptcy and announced that it would close 142 stores, including 63 Kmart stores

The sale of 202 Kmart stores to Transform Holdco was finalized in February 2019, with the remaining Kmart locations liquidated to partially pay off Sears Holdings creditors

As of August 17, 2021, The New York Times lists the number of open stores at 17.[1] The chain is expected to have only twelve stores left, six of them in the continental US, by the end of 2021

 

Maybe this will help explain why   has closed their stores.

 

 

[Dustparticle]

1 hour ago, Tortuga said:

...the last remaining West Coast Kmart is closing...

 

https://abc7.com/kmart-store-closure-last-in-california-grass-valley-location/11358555/

Those blue disco lights are going away. 

[GeordieGirl]

KMart and Target both were not doing well here for quite some time.  Then they put a new person in charge of all the Australian KMart stores and whoever it was did such a great job and it is one of the most popular stores here. A number of Target stores were closed down and turned into KMart.  It was so successful that the same person was put in charge of the remaining Target stores to turn them around, too.  

[Qapla]

Quote

There is a popular retail chain in Australia called Kmart, and it's unrelated to the American company of the same name. Despite having the same name and similar branding, the two stores have nothing to do with each other.

 

This Australian Kmart, owned by the conglomerate Wesfarmers Limited, operates 231 department stores across the continent. The chain once had a licensing agreement with the Sears Holdings Corporation allowing it to use the store's name, but in 2017, the Australian company acquired the brand name in the region for $100 million, according to its annual report.

Quote

There's a popular retail chain called Target that can be found across Australia — and it's unrelated to the famous Target brand in the US. Despite having the same name and nearly identical logos, the two Targets on opposite hemispheres are actually owned by completely separate companies

 

While the two stores have numerous similarities, there is "no relationship" between them, a Target spokesperson told the Star Tribune. The 300 Targets in Australia, the first of which opened in 1926, are owned by Australian conglomerate Wesfarmers Limited. Meanwhile, the American stores with the same name are owned by the Minnesota-based Target Corporation.

 

Interestingly, Wesfarmers is the same company behind Target — the Australian retailer that, just like Kmart, has nothing to do with the American store bearing the same name and nearly identical branding. 

 

 

This may clear up a little bit of the confusion

 

 

 

Edited December 20, 2021 by Qapla

[hatcheckgirl]

Ah, yes it does.  Funny world 🙄

[bobby]

5 hours ago, hatcheckgirl said:

Wow! We have them still in all major shopping centres here. Wonder why the California ones have failed. Very popular here. 

my mom dosnt work there any more 1985-2005 

[GeordieGirl]

5 hours ago, Qapla said:

 

Interestingly, Wesfarmers is the same company behind Target — the Australian retailer that, just like Kmart, has nothing to do with the American store bearing the same name and nearly identical branding. 

 

 

 

 

 

 

Only partly correct. Currently, wholly Australia owned but historically: 

 

Kmart Australia Limited was born out of a joint venture between G.J Coles & Coy Limited (Coles) and the S.S. Kresge Company which was the company that operated Kmart stores in the United States. Kresge owned 51% of the common stock in the company and Coles owned the remaining 49%, together they began to develop Kmart stores in Australia in 1968.

 

In 1978 Kresge (since 1977 known as the "Kmart Corporation") exchanged its 51% stake in Kmart Australia for a 20% stake.[3] In 1994 Coles bought back all shares held by Kresge/Kmart Corporation.

 

The first Australian store was opened by Mrs HB Cunningham, wife of the president and chairman of the S.S. Kresge Company.

 

https://en.wikipedia.org/wiki/Kmart_Australia

 

Target Australia, however, was born and raised in Geelong, Australia.  

 

Obviously, in relation to this part of the conversation, what happens to the US KMarts will have no bearing on the Australian ones.

Edited December 20, 2021 by GeordieGirl

[Sandyds61]

I used to go to that store when I lived there. Brings back memories.