Description: A caption on top of the picture says "Earth is littered with the ruins of empires that believed themselves to be endless."
Underneath is a picture of an abandoned store, on five slabs of concrete the name "Sears" is still visible.

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[–] niktemadur@lemmy.world 7 points 2 months ago (1 children)

Ruminating on the subject a little further in light of this information, Kmart is also owned in the USA by the same (allegedly crazy) Illinois-based person who sank his own business empires.

But Kmart is still going strong in Australia, isn't it?

Looking up Sears in Wikipedia, Carlos Slim owns 80% of the Mexico side of Sears, while the remaining 20% goes to Sears Holdings in Illinois. With such an overwhelming majority stake, I imagine that Slim can run Sears Mexico with no interference, but then also all Illinois has to do is kick back and reap the benefits that 20% stake, and the same should also apply for Kmart Australia.

Then again, after their collapse through incompetence, and liquidating their USA chains, I would suppose the Illinois office is probably still up to its' neck in rolling debt.

[–] Asidonhopo@lemmy.world 1 points 2 months ago

I believe the Australian KMart is a distinct and unrelated company.