Man Buys Out Entire Kmart Store and Gives All to Charity

Generous businessman spent more than $200,000

   

Successful Kentucky businessman Rankin Paynter recently bought everything that remained on the shelves of a closing a Sears (NASDAQ:SHLD) -owned Kmart store and donated each item to a local charity.

It took more than six hours for Paynter, the owner of Rankin Paynter Buying Center, to purchase the store’s entire inventory. He then took the items to local a charity.

“This is the largest donation we’ve ever received,” Judy Crowe the director of Clark County Community Services told WHDH News. “This will be the first year we have enough hats and gloves for all the children we serve during Operation Happiness.”

Surviving a cold winter is something Paynter had personal experience with before he became successful in business.  “It was hard sometimes,” Paynter told the news channel. “Tied rags around my feet sometimes too. I only had summer slippers.”

Since Clark County Community Services does not have enough space to keep the generous donations, Paynter also rented a building to store the items until winter.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/man-buys-out-entire-kmart-store-and-gives-all-to-charity/.

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