Kmart Doors Closed for Good
Kmart Doors Closed for Good
Makayla Burke
April 10, 2018
The Kmart Company was founded in 1899 and the first Kmart named store opened on March 1st, 1962. In early January of 2018 the Sears Holdings Corporation announced that it would be closing 103 more stores, 64 of these being Kmart stores. Sadly, on this list is our very own Kmart here in Franklin. Not long after SHC made their announcement, the closing of Kmart at Westgate Plaza Road was announced in the paper. “Why exactly are they closing?” you might ask, well I don’t want to get too into the business side of things but the Sears and Kmart merger set both stores up for failure from the start. The company is widely considered one of the most publicly traded retailers. Long story short, Sears Holdings spent $5.8 billion buying back stores between 2005 and 2010 which drained the company of its resources. On top of this the company has been making around half of what it used to since 2009. We will all be very sad to see the store that has happily employed our high school students for years. Kmart officially closed its doors on Sunday, April 8th 2018.
If Makayla could have a boat, she would name it Betsy because that’s what she names every vehicle. If she could change her name she’d probably change...
