Kmart's Builders Square operates 162 stores, primarily in the Midwest and Southwest.
After about seven years of being empty, Builders Square occupied the anchor spot in 1995, and was replaced with Home Depot around 2000.
Builders Square is the company's only remaining noncore business.
Other locations included former Venture and Builders Square stores, making for a total of 11 stores.
A fire caused by an irresponsible employee at the Builders Square in 1993 further sped up the inevitable demise of the mall.
Builders Square was a home improvement superstore.
Cool weather hurts business at Builders Square, Kmart's home-improvements chain.
It was unclear what would become of Kmart's Builders Square chain.
He attributed Pace's difficulties to "industry, rather than company-specific, conditions" and the Builders Square problems to the expenditure of $4 million for opening new units.
Builders Square, which cannot be spun off as a free-standing business because its performance is not strong enough, would be sold.