K mart Sells Kresge, Jupiter
DETROIT — K mart Corp., the nation’s second-largest retailer, said today it will sell its domestic Kresge and Jupiter stores to McCrory Corp., owner of TG&Y;, J.J. Newberry and other retail chains.
K mart said it was selling the stores that gave the company its start 88 years ago because a five-and-dime operation no longer fits into K mart’s marketing strategy. The 76 stores in 21 states will be renamed McCrory 5 & 10 after the transaction closes in early June, K mart said. The price will depend upon inventory on the closing date.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
