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Kmart is owned by the Sears Holdings Corporation, which like any corporation, is owned by shareholders. A CEO on day took over both kmart and sears and decided to name it sears holdings because sears has a better reputation than kmart. Vibhu Bhardwaj.
Kmart announced in September it plans to close five other stores across the state by December. Stores will close in Burton, Flint, Madison Heights, Port Huron and Rochester. A Kmart store at 3100 Washtenaw Ave. in Ypsilanti Township closed in April. It has since been replaced with Texas-based retailer At Home. Riefs said a liquidation sale will begin Nov. 2 at the store on North Maple Road in Ann Arbor. The store will close to the public in mid-January. The store employs 59 people, and Riefs said eligible associates will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores.