K-mart completes purchase of sears. How? Isn't kmart kbankrupt?

[Deja Q]

http://abcnews.go.com/Business/wireStory?id=611422

HOFFMAN ESTATES, Ill. Mar 24, 2005 — Kmart bought Sears, Roebuck and Co. for $12.3 billion on Thursday, combining two faded retail icons whose sales have been declining for years into the nation's third biggest retailer with $55 billion in annual sales.

Shareholders signed off on the deal in separate meetings at Sears' suburban Chicago headquarters, which now becomes the base for a company that adopts the name Sears Holdings Corp. It trails only Wal-Mart Stores Inc. and Home Depot Inc. among U.S. retailers.

The votes capped off the stunning proposal unveiled four months earlier by Kmart Holding Corp. Chairman Edward Lampert, the billionaire hedge-fund manager who was the largest individual shareholder in each company.

[coloradodem2005]

1. Yes they are bankrupt.

Just about all the stores in the Denver Metro area disappeared off of the face of the earth. This boggles the mind.

[El Supremo]

2. Not any more. n/t

I love K-Mart and Sears Roebuck. I hope they can now put a few Wal-Marts out of business.

[coloradodem2005]

3. Aren't they Republican too though?

Even so, they are not as bad as Wal Mart.