Is Kmart Bankrupt? Does Kmart still exist? Kmart initially filed for Chapter 11 bankruptcy on January 22, 2002. Kmart was then merged with Sears after buying out the company for $11 billion in November 2004 and became known as Sears Holdings Corporation. Sears Holdings declared bankruptcy in October 2018. The remaining Kmart imprint was later … Continue reading How many Kmarts are left in the United States? →