Troy based K-Mart filed for Chapter 11 bankruptcy making it the biggest retailer to ever seek bankruptcy protection. In 2005, Sears would purchase K-Mart. However, 7 years later both K-Mart and Sears are continuing to struggle.
For the full article, see Jaklyn Trop, “Kmart, Sears show their age in fight for survival; Onetime retail giants struggle for relevance 7 years after merger”, Detroit News, January 21, 2012.
Source : Historical Society of Michigan