K-Mart

Back once more and I want to talk about some recent news that I read on some news website that I ran into while surfing. It has to do with K-Mart, which was announced today that they are going to close their one big last store in New York next month which will close the chapter on this former major big company. It seems that K-Mart like other major retailers in the USA fell into the ever changing market place by not changing or adapting to the retail marketplace which was changing rapidly.

I say this because I remember when they had a store here in Canada and my family used to shop there most of the time for some items that were not only cheap but reasonably priced that customers were able to afford. They operated their business in some former shopping mall which has turned into a shopping center and some residential area where most apartments are now built. K-Mart was a very good store and they should have stayed here in Canada when it came to serving customers.

But like most businesses, K-Mart fell victim to competition such as Walmart and others and just had to file for bankruptcy protection. It wasn't able to compete and as a result customers stopped coming and they went out of business in this country and the USA by closing a lot of their stores. I thought that they were able to come back since Sears bought their stores and sort of restored some respectability but that wasn't the case because Sears of course had to file for bankruptcy protection too because they were having financial problems as well.

As to this day, there are no more big K-Mart stores to this date across North America with the exception of a small K-Mart in Florida and some stores in most US Territories but I have a hunch that these ones will close unless further notice. Too bad because the brand name was an American icon that had been around for years along with Sears which of course didn't change with the ever changing marketplace but I figured that they didn't have the money to update and renovate their stores and because of that they folded.

So I will end this article with those thoughts.