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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.
Another wave of Kmart store closures is underway. On Friday, Sears Holdings, which owns Sears and Kmart, informed Kmart employees in at least 13 states that their stores would be closing in mid-December, according to local news reports and employees who spoke to Business Insider. The stores that are closing will begin liquidation sales on September 22, employees said.