Kentucky man buys out Kmart for charity

A Kentucky businessman who bought out his local Kmart and donated the contents to charity said he did it because he knows what it’s like to grow up poor.

Rankin Paynter heard the Clark County store was shutting down, so he went looking to buy display cases for his business that buys and sells jewelry and coins.

He asked a clerk what happened to unsold stock, and she told him “power-buyers” take it, the Lexington Herald-Leader said.

Paynter, 76, decided he qualified and arranged to take everything in the store.

He estimated a profit of almost $40,000 reselling the merchandise.

“All of a sudden, I just thought to myself, ‘Rankin, you don’t need that money,’” he told the newspaper. “So I told my wife, JoEtta, ‘I’m going to give it away.’ And she said fine.”

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His charity of choice was Clark County Community Services, USA Today reported.

The haul, estimated to cost $200,000, included everything from car parts to medicine, but most of it was winter clothing.

“This will be the first time we will have enough coats and gloves for everybody,” said the charity’s director, Judy Crowe.

Paynter also donated storage space and paid for the moving expenses.

His story quickly spread, garnering international media attention, but also some unwanted phone calls, according to the Toronto Star.

Paynter said he’s glad people are hearing about his example, but he’s also getting phone calls from others in desperate need.

“There’s a problem with giving,” he told the Star. “I’m getting phone calls from all over the country from people wanting money who say they’re going to come see me. It’s actually gotten scary.”

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