Kmart Australia [SEP] parent company
Kmart Australia
Kmart Australia Limited is an Australian chain of retail stores (low-price stores), owned by Wesfarmers. It operates 228 stores across Australia and New Zealand, with its head office located in Mulgrave, Melbourne.
History.
Kmart Australia Limited was born out of a joint venture between G.J Coles & Coy Limited (Coles) and S.S. Kresge Company in the United States, with Kresge owning 51% of the common stock in the company. They began to develop Kmart stores in Australia in 1968.The first
Kmart closed 35 more stores due to low profitability and poor sales. On December 27, 2011, after a disastrous holiday sales season, Sears Holdings announced that 100 to 120 of Sears and Kmart stores would close.
In 2014, news reports indicated that Kmart was liquidating dozens of stores across the United States. Kmart's parent company, Sears Holdings Corporation, underwent financial distress throughout the year, sparking an unspecified number of closings of Sears and Kmart locations amid vendors' and lenders' concerns about its liquidity. Along with