Free Republic

The doors to the last full-size Kmart store in the United States will close forever on October 20. WJAR reported on Sunday that an employee confirmed the location in Bridgehampton, New York, will close up shop on that date. “Kmart has been slowly closing stores for years since merging with Sears in 2005 under the management of hedge-fund CEO Eddie Lampert. Sears Holdings, the parent company of Kmart and Sears, filed for Chapter 11 bankruptcy in 2018,” the report said. According to Fox Business, the department store chain ran about 2,300 locations in the 1990s. Transformco, which owns the smaller...

After 95 years, shareholders of Sears, Roebuck and Co. should get ready to say goodbye to the letter S. When the Hoffman Estates-based retailer merges with Kmart Holding Corp. in an $11 billion deal expected to close next month, the new company plans to trade shares on the Nasdaq stock exchange, according to a regulatory filing. That means Sears will give up the single-letter ticker designation that it has used on the New York Stock Exchange since 1910. The new Sears Holdings Corp. hasn't chosen a trading symbol, but in a filing Tuesday with the Securities and Exchange Commission, the...