Kmart in the United States is currently owned by Transform SR Brands LLC, a privately held company formed in 2019 to acquire assets from Sears Holdings, which previously owned Kmart. Before this, Kmart was a subsidiary of Sears Holdings Corporation. Edward Lampert, through his hedge fund ESL Investments, played a significant role in Kmart's bankruptcy and reorganization stages. The last big-box Kmart stores in the mainland U.S. have mostly closed, with only a few locations remaining in U.S. territories and Florida.
In contrast, Kmart in Australia and New Zealand is owned by the Kmart Group division of Wesfarmers, an Australian conglomerate. Kmart Australia operates over 300 stores and is a growing retail chain separate from the U.S. Kmart brand.
