The news from earlier this week that Kohl’s Corp. (NYSE:KSS) was in advanced talks to be acquired by Franchise Group Inc. (NASDAQ:FRG) marked the beginning of the end for a financially troubled department store chain whose leadership vainly attempted to ignore concerns that it was leading the company in the wrong direction.
What Happened: Kohl’s operates 1,100 stores in every state except Hawaii. On Monday, the Menomonee Falls, Wisconsin-based company entered a three-week exclusivity period to hammer out an acquisition deal with Franchise Group, a holding company whose retail portfolio includes franchise-driven brands including The Vitamin Shoppe, Pet Supplies Plus, Sylvan Learning and Buddy’s Home Furnishings.
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