business news in context, analysis with attitude

•  The San Francisco Chronicle reports that the last Kmart in California, in the community of Grass Valley, has closed for good.

The story notes that "Kmart began life in the late 1800s as a five and dime store in Tennessee. Its first Kmart-branded store opened in 1962 in San Fernando, Calif., and at its height, Kmart had thousands of locations nationwide," but has been decline for the past two decades, suffering through store closures, layoffs and a merger with Sears - none of which fixed what ailed the chain.

Target reportedly has snapped up the Grass Valley location for a store location.



•  CNBC reports that Sears "is considering a sale or a redevelopment of its massive corporate headquarters in suburban Chicago, as its retail footprint keeps dwindling.

"Transformco, the parent company of Sears and Kmart, said it will begin to market the 273-acre property in the suburb of Hoffman Estates, Illinois, to potential buyers early next year. It’s also considering other redevelopment uses for the site."