It was the parent company of the chain stores Kmart and Sears and was founded after Kmart purchased Sears in 2005.[7] It was the 20th-largest retailing company in the United States in 2015.[8] It filed for Chapter 11 bankruptcy in 2018 and sold its assets to ESL Investments in 2019.[9] New owner moved Sears assets to its newly-formed subsidiary Transform Holdco LLC and after that, Sears Holdings Corporation was closed.