The Kmart in Covington was spared in the latest round of store closings, though the bargain retail chain may close dozens more stores in the near future. Sears Holdings Corp., which owns Kmart and the various types of Sears stores, announced it was closing 79 Kmart and Sears stores around the country to raise cash after disastrous holiday shopping season, a move that sparked speculation about whether the 125-year-old retailer can avoid a death spiral fed by declining sales and deteriorating stores. It plans to close a total between 100 and 120 stores, according to the corporation.