Current:Home > MarketsTurn out the blue light: Last full-size Kmart store in continental US to close -Apex Capital Strategies
Turn out the blue light: Last full-size Kmart store in continental US to close
View
Date:2025-04-24 10:53:52
The blue light is all but turned off as Kmart is set to close its last full-sized store in the continental United States.
An associate at the Bridgehampton, New York confirmed that the store is scheduled to close on Oct. 20 when USA TODAY called the location.
The Bridgehampton store, approximately 95 miles east of Manhattan, is one of two Kmart locations remaining in the continental U.S. The location soon to become the last store, located in Miami, is smaller with a limited range of products, according to CNN.
Transformco, the owner of Kmart and Sears, did not respond to a request for comment from USA TODAY Monday.
Sears, Kmart on last legs
At its peak, Kmart had well over 2,000 locations in the U.S. and was among the nation's retail giants.
Kmart merged with Sears in 2005 in a deal engineered by hedge fund manager and CEO Eddie Lampert.
The combined companies fell behind as e-commerce grew and consumer preferences changed.
The merged company filed for Chapter 11 bankruptcy protection in 2018 and narrowly escaped liquidation in early 2019.
It was sold to Lampert, who has kept the brands alive on a shoestring budget.
Kmart locations dwindled under Transformco, leaving only the Bridgehampton and Miami locations in the continental U.S. and locations in the U.S. Virgin Islands and Guam.
Together, Sears and Kmart have closed more than 3,500 stores and cut about 250,000 jobs in the past 15 years.
Contributing: Kelly Tyko
veryGood! (9)
Related
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- More than 60 Senegalese migrants are dead or missing after monthlong voyage for Spain
- Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years
- NYC bans use of TikTok on city-owned phones, joining federal government, majority of states
- Meta releases AI model to enhance Metaverse experience
- The Killers booed in former Soviet republic of Georgia after bringing Russian fan onstage
- ‘Blue Beetle’ director Ángel Manuel Soto says the DC film is a ‘love letter to our ancestors’
- Millions of Apple customers to get payments in $500M iPhone batterygate settlement. Here's what to know.
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Is spicy food good for you? Yes –but here's what you should know.
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Watch Nick Jonas tumble into hole at Boston's Jonas Brothers 'The Tour' show; fans poke fun
- Kansas City Superfan ‘ChiefsAholic’ charged with stealing almost $700,000 in bank heists
- 4 Australian tourists rescued after going missing at sea off Indonesia for 2 days
- Former longtime South Carolina congressman John Spratt dies at 82
- Spam, a staple in Hawaii, is sending 265,000 cans of food to Maui after the wildfires: We see you and love you.
- Madonna turns 65, so naturally we rank her 65 best songs
- Wisconsin crime labs processed DNA test results faster in 2022
Recommendation
What do we know about the mysterious drones reported flying over New Jersey?
Biden’s approval rating on the economy stagnates despite slowing inflation, AP-NORC poll shows
See RHONY's Brynn Whitfield Hit on Her Costar's Husband Behind Her Back in OMG Preview
More than 1.5 million dehumidifiers recalled after 23 fires, including brands GE and Kenmore
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Target sales dip first time in 6 years amid Pride Month backlash, inflation
Britney Spears’ Lawyer Previously Detailed Plan for Sam Asghari Prenup to Protect Her “Best Interests”
England's Sarina Wiegman should be US Soccer's focus for new USWNT coach