The Shocking Truth Behind Kmart’s Bankruptcy

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  • Опубликовано: 25 ноя 2024

Комментарии • 52

  • @ThoseWonderYears
    @ThoseWonderYears  2 месяца назад +5

    What do you miss most about Kmart?

    • @Spike-m2p
      @Spike-m2p Месяц назад

      The pharmacy. Thankfully the pharmacist at Kmart got a job at Meijer pharmacy. I loved the Jaclyn Smith clothing line. Really enjoyed the toy section and Christmas decor. Always liked Kmart better than Wal-Mart and Target, the employees were nicer

  • @davinp
    @davinp 2 месяца назад +12

    Kmart suffered from mis-management. Instead of investing in updating/remodeling their stores, they spent the money buying other retailers. Then after their 2003 bankruptcy, they made the huge mistake of buying Sears. Eddie Lambert then let the Kmart stores decline. They begin to look old and run down. My Kmart closed in 2014. Eddie was interested in the real estate side, not the retail side. He ran both Sears & Kmart to the ground

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад +1

      Thank you for sharing your thoughts! You’ve made some excellent points about Kmart’s management decisions, especially regarding their investments in other retailers instead of focusing on updating their stores. The merger with Sears indeed seems to have been a turning point that accelerated the decline. It’s interesting (and sad) how much the focus shifted away from retail operations. What do you think could have been done differently to save Kmart? Would love to hear more of your thoughts!

    • @paulaludengow3516
      @paulaludengow3516 2 месяца назад

      Would just like to point out that K mart never had enough to capitol to "buy" Sears. Sears was the the leader of the pack and it was common knowledge that Sears was taking on K mart because the plan was that Sears acquisition of K mart was believed that it would help both businesses to pool their assets together. (though Sears seemed to have the more notable brand names.) But once again, poor management played a very key role in both companies to have to close. I miss both stores. (the announcer phrased it correctly when he said the two companies merged.) - - - Oh, let me point out also that K mart had been under paying employees nearly to their closing. That was their first problem they should have dealt with that first. Second, they badly needed to upgrade the registers! Third, the Blue light specials Never needed anything, except to not be taken away.

  • @dougsnyder8963
    @dougsnyder8963 2 месяца назад +6

    My first real job as a teen was at K-mart in LaPorte, Ind. when it opened in 1976. I worked in the paint dept. mixing and selling paint. I think I made a whopping $2.85 an hour. Enough to keep my 72’ Chevelle full of gas to cruise the drag. 🤪
    I still remember that cafe inside the K-mart.
    Thanks for the great memories. ❤️👍

  • @tuxysmagicaljukebox5431
    @tuxysmagicaljukebox5431 2 месяца назад

    I like the voice over narrations of these videos. They sound like that of a vintage documentary, and in a good way!

  • @billturner2370
    @billturner2370 5 дней назад +1

    I remember going to the fishing department when i was a kid. those are wonderful memories!

  • @gmwcfhg
    @gmwcfhg 2 месяца назад

    Kmart was where I bought my first album, 52nd Street by Billy Joel, with my 8th birthday money - other fond memories of the store include the catchy jingle, the aroma wafting from the cafe, and the little coin-operated merry-go-round right outside the entrance

  • @cheryl2962
    @cheryl2962 2 месяца назад +2

    I Remember The little Carousel By The front door!

  • @karanferrell4680
    @karanferrell4680 2 месяца назад +4

    I miss Kmart and Woolworth!

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      I totally get what you mean! Kmart and Woolworth were such staples in so many communities. They both had a certain charm and nostalgia that’s hard to find in today’s retail world. What do you miss most about shopping there? Would love to hear your favorite memories!

    • @MICHAEL-vi4pj
      @MICHAEL-vi4pj 2 месяца назад

      @@karanferrell4680 I miss a Woolworth birthday cake

  • @sabbathunter
    @sabbathunter 2 месяца назад +5

    Eddie Lampert. Eddie Lampert is what happened to Kmart. And to sears.

    • @davinp
      @davinp 2 месяца назад +2

      Kmart was declining before Eddie Lambert came due to mis-management

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      we have another video about sears in the channel :)

  • @madtownangler
    @madtownangler 15 дней назад

    One of the last stores was in my parents town. They still made money up until the end. They were in a touristy area next to the only grocery store in town

  • @abigar-k
    @abigar-k 2 месяца назад +2

    Its nbd but it looks a few images shown are of Australian Kmarts, which are still going strong in Australia and since 1994 have had no common ownership with the US company

  • @courtneypuzzo2502
    @courtneypuzzo2502 2 месяца назад +3

    there are many reasons why Kmart failed in the end changing shopping habits poor management etc.

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      Totally! Kmart just couldn’t keep up with the times. It’s wild how shopping habits have changed, huh?

  • @janicecopeland9083
    @janicecopeland9083 2 месяца назад +2

    Loved K mart back in the 70s, 80s.

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      It’s amazing how Kmart holds a special place in so many hearts, especially from those decades! There was something about the shopping experience back then that was truly unique. Do you have any specific memories or favorite things you used to buy there during the 70s and 80s? I’d love to hear your stories!

  • @c.mcmillan4323
    @c.mcmillan4323 2 месяца назад +1

    Wow, I remember my childhood in the 1970s, 1980s, and 1990s. I never liked them, however, my parents, grandparents, and my great grandparents loved them very much and attended there every weekend with family and relatives together. That's hilarious! My good experience and good memories with Kmart stores are because the employees wore blue/green color mixed bright top uniforms, blue flashing light signal, "Attention Kmart Shoppers," a half silver mirror on the ceiling top everywhere inside, the white balloon (K-red, mart-blue) with red stand stick, and the light bulbs with a long huge line all the way on the ceiling top. In the meantime, I like Target stores because they are modern, specification, and sleek. 😁

  • @LisaRichards_123
    @LisaRichards_123 2 месяца назад

    I hated this store. I live in California where it’s pretty hot in the summer and in the mid 1990’s, they would always claim the air conditioner was broke down and that they were getting it fixed, which of course, never happened. I didn’t go there for 5 years. Then I went in 2000, and it was still the same, but the inventory was sparse, and so was the help. It was like no one worked there. I went about three times, maybe 4 that year, and finally, quit going that year.

  • @marklendhurst1193
    @marklendhurst1193 Месяц назад

    My local Kmart is now a Cleveland Clinic where I just did some blood work (probably about where women's intimates were. I did work there for a short time before they closed. I absolutely love when I find a vinyl record or baseball card set with a vintage Kmart sticker on it

  • @khadijahbilal9325
    @khadijahbilal9325 23 дня назад

    They acquired stores that also went belly up. I remember in the end the store looked like a thrift store. Old , outdated and higher prices that Walmart. I said to myself, they are going to go out of business.

  • @newjersey502
    @newjersey502 2 месяца назад +3

    Also in their infinite wisdom K Mart implemented 20 40 60 at the worst time . They laid off the Management with 20 Years Experience , 40 Years Old , Making $60,000 dollars . That only accelerated their decline . With those lay offs they took the expressway to the dumpster !

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      Thank you for sharing your insights! It’s always interesting to hear different perspectives on corporate decisions and their consequences.

  • @davinp
    @davinp 2 месяца назад +1

    Kmart, Walmart & Target all opened in 1962, but Kmart expanded quicker across the USA than the others did. But then the 1980s came and those 2 retailers started coming across the country in Kmart's areas

  • @kimpaff5443
    @kimpaff5443 2 месяца назад +1

    My grammy worked for K mart for many years. I always got a special barbie ❤

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      What a sweet memory! 💖 Your Grammy must have made working at Kmart extra special, especially with those Barbies! Such a lovely tradition. Thanks for sharing-it brought a smile to my face! 😊

  • @khadijahbilal9325
    @khadijahbilal9325 23 дня назад

    I shopped there when I moved into my first appartment

  • @khadijahbilal9325
    @khadijahbilal9325 23 дня назад

    The last one in bridgehamptom closed in October . Its no more

  • @MaxZomboni
    @MaxZomboni 2 месяца назад +4

    Kmart was never special. It was a monopoly. When they lost their monopoly, they lost the game. Sure the logo changed and the uniforms changed from green to red, but the day the stores closed they still had the exact same pegboard shelving and florescent lighting as the day they opened. Kmart spent zero on improving their stores. They just kept operating like they were still a monopoly.

  • @Nomaswearefull
    @Nomaswearefull 2 месяца назад +2

    Rainman came out in theaters and told everyone Kmart sucks

  • @hollynelson3336
    @hollynelson3336 2 месяца назад +1

    Now Kmart is gone and so are all the low prices.

  • @jameshallisey6689
    @jameshallisey6689 2 месяца назад +1

    I never thought much of Kmart. I always felt that they were dumpy and dirty. Way back I never liked Zodys either.

  • @LisaRichards_123
    @LisaRichards_123 2 месяца назад

    Woolworth’s was great

  • @mrwaterschoot5617
    @mrwaterschoot5617 2 месяца назад +1

    things change. walmart xhanged with the times. it was onr time mode in ameriva. it mobed into yje glonal marjets as international low cost.
    kmart lost its hearth it rook with it sears and borders. walmart replaced walmart in some towns. and in slome plaves closed discount store were replaced with outer middle vlassed stores.

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      Thank you for sharing your thoughts! It’s interesting to hear different perspectives on how these changes have affected the retail scene.

  • @silleywilley
    @silleywilley 2 месяца назад +2

    Ah yes…. The old 5 and deem stores.

  • @admmikemat6700
    @admmikemat6700 Месяц назад

    Me and my friend got caught stealing at KMart on santa ana N atlantic in caduhy
    I steal a shrapie he hhad a gameboy some games n charger
    We were 12

  • @ShrtKtz1
    @ShrtKtz1 2 месяца назад

    Another reason to hate target lol

  • @MICHAEL-vi4pj
    @MICHAEL-vi4pj 2 месяца назад +2

    Kresgeeee. Seeers not sizers or kresgggg

    • @ThoseWonderYears
      @ThoseWonderYears  2 месяца назад

      Haha, I get it! 😅 Sometimes the pronunciation gets a bit tricky. Thanks for the laugh and for watching-hope you enjoyed the video!

  • @ezrawilson6986
    @ezrawilson6986 27 дней назад

    The artificial voice ruins the video