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Although the company was plagued with financial difficulties, and filed a Chapter 11 bankruptcy, they have bounced back and are stronger than ever. “On May 6, 2003, Kmart and 37 of its U.S. subsidiaries and affiliates emerged from the Chapter 11 reorganization process – 15 months after they filed for Chapter 11 in the United States Bankruptcy Court for the Northern District of Illinois on January 22, 2002.” (Sears Holdings Corporation, 2008). Within a couple of years of pulling out of bankruptcy K-Mart purchased Sears and the two once separate companies became part of Sears Holdings Corporation...
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