The last full-sized Kmart store in America has closed.
The store, located in Bridgehampton, New York, on Long Island, shuttered on Oct. 20.
CNN reports the closure will leave only a small Kmart store in Miami, as well as a handful of stores in Guam and the U.S. Virgin Islands.
In 2017, Sears Holdings, which operates both Sears and Kmart stores, announced multiple rounds of closures for Kmart stores. A year later, the company filed for Chapter 11 bankruptcy reorganization. In 2019, Transformco bought the assets of Sears and Kmart.
At its peak, there were more than 2,000 Kmarts in the U.S.
According to Silive.com, the 1980s were considered a golden age for the brand with a redesign and the launch of Kmart Supercenters in the ‘90s. But the retailer couldn’t compete with Walmart’s low prices and Target’s trendier offerings. Kmart eventually filed for Chapter 11 bankruptcy protection in early 2002, becoming the largest U.S. retailer to take that step.
In 2017, Kmart closed its last store in Alabama.
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Publish date : 2024-10-24 08:35:00
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