Kmart Corporation. Sears Holdings, the parent company of Kmart, declared Chapter 11 bankruptcy on October 15, 2018. S. S. Kresge, the founder of the company that would become Kmart, met variety-store pioneer Frank Winfield Woolworth while working as a traveling salesman and selling to all 19 of Woolworth's stores at the time. In 1897 Kresge invested $6,700 saved from his job into a five-and-dime store in Memphis, Tennessee. He jointly owned the first store with his former tinware customer, John McCrory. Kresge and McCrory added a second store in downtown Detroit the following year. These were the first S.S. Kresge stores.
Steinbach (store) Steinbach (store) Steinbach was a department store chain based in Asbury Park, New Jersey. Steinbach was founded in Asbury Park, New Jersey, and maintained branch stores along the New Jersey shore, and in the central part of New Jersey. The company was at one time affiliated with the Kresge-Newark department store in downtown Newark. In the 1960s, the chain was purchased by (SGC), and continued to operate as a standalone company. SGC also purchased the Howland chain in Bridgeport, Connecticut (which had previously merged the Genung's chain of stores into itself), along with the two-store Goerke's department store based in