NEW YORK ÃÛÁÄÖ±²¥” Attention, Kmart shoppers, the end is near!
The erstwhile retail giant renowned for its Blue Light Specials ÃÛÁÄÖ±²¥” featuring a flashing blue orb affixed to a pole enticing shoppers to a flash sale ÃÛÁÄÖ±²¥” is shuttering its last full-scale store in the mainland United States.
The store, located in swank Bridgehampton, New York, on Long Island, is slated to close Oct. 20, according to Denise Rivera, an employee who answered the phone at the store late Monday. The manager wasnÃÛÁÄÖ±²¥™t available, she said.
That will leave only a small Kmart store in Miami. The retailer closed its last New Jersey store last year. It has a handful of stores in Guam and in the U.S. Virgin Islands. In its heyday, there were more than 2,000 Kmarts in the U.S.
Transformco, the company that in 2019 bought the assets of Sears and Kmart out of the bankruptcy of Sears Holdings, did not immediately respond to an email requesting comment.
In its heyday, there were more than 2,000 Kmarts in the U.S.
Struggling to compete with WalmartÃÛÁÄÖ±²¥™s low prices and TargetÃÛÁÄÖ±²¥™s trendier offerings, Kmart filed for Chapter 11 bankruptcy protection in early 2002 ÃÛÁÄÖ±²¥” becoming the largest U.S. retailer to take that step ÃÛÁÄÖ±²¥” and announced it would close more than 250 stores.
A few years later, hedge fund executive Edward Lampert combined Sears and Kmart and pledged to return them to their former greatness. But the 2008 recession and the rising dominance of Amazon contributed in derailing that mission. Sears filed for Chapter 11 in 2018 and now has just a handful of stores left in the U.S., where it once had thousands.
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