Department Stores Through the Years. Department Stores Come and Gone. Sears: Founded 1886, Filed for bankruptcy in 2018. Gimbels: Founded 1842, Closed & liquidated 1986-1987. Kmart: First store opened 1962, As of 2026, 3 stores left in: Miami, Guam & U.S. Virgin Islands. Hess's: 1897-1994. Montgomery Ward: 1926 - Opened first store, 2001 - Physical
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