Failed Buisnesses

 Converse and Kmart are two business that have been merged into other companines. Converse was bought by Nike. Kmart was bought by Sears.

 Converse filed bankruptcy on January 22nd 2001. Converse lost much of its apparent near-monopoly from the 1970s onward, with the surge of new competitors, including Puma and Adidas, then Nike, then later Reebok, who introduced new designs to the market. In April 2001, footwear acquisitions, led by Mardsen Cason and Bill Simon bought them company. The new owers made converse go from the 16th largest foot wear to 7th largest in 2.5 years. This later led to Nike to buy the company. Nike bought the company on July 9, 2003 for 305 millon dollars. After Nike bought Converse the expanded the company from the US to overseas.

 On November 17, 2004 Kmart announced that they wanted to purchase Sears. Doing this they would change there name from Kmart Holdings Corporation to Sears Holdings Corporation. The typical white and blue interior of the stores was changed to orange and brown, and shelf heights were lowered to create better sightlines. 280 stores as of 2009 have been remodeled to this new prototype. Some auto centers left vacant by Penske aftern Kmart filed for bankruptcy have been converted to Sears Auto Centers. In November 2009, Kmart reported its first year-over-year sales increase of 0.5 percent since 2005, and only the second such increase since 2001.