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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.
The company published a blog post on Wednesday seeking to debunk claims that Kmart is getting ready to shut down after a Business Insider article last week said, citing employees, that the company was purging warehouses and putting all stock out on the sales floor in what could seem tantamount to close-out sales.