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.
Discount store Zeemand both operate throughout Europe. In addition, the German chains Lidl and Aldi are both operating shops in The Netherlands. New Zealand's main discount shops includes The Warehouse. Discount shops cover about 20% of food sales in Poland. Main retailers: Competition in the global discount shop industry has intensified as the various players try to undercut their rivals to attract new customers and retain existing customers with low priced goods. "See also" - List of discount shops in the United Kingdom During the period from the 1950s to the late 1980s, discount stores were more popular than the average supermarket