Current:Home > MarketsTurn out the blue light: Last full-size Kmart store in continental US to close -Elite Financial Minds
Turn out the blue light: Last full-size Kmart store in continental US to close
View
Date:2025-04-13 03:08:08
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! (461)
Related
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Inside Clean Energy: ‘Solar Coaster’ Survivors Rejoice at Senate Bill
- Project Runway All Stars' Rami Kashou on His Iconic Designs, Dressing Literal Royalty & More
- Las Vegas just unveiled its new $2.3 billion spherical entertainment venue
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- To tip or not to tip? 3 reasons why tipping has gotten so out of control
- The streaming model is cratering — here's how that's hurting actors, writers and fans
- The Indicator Quiz: Jobs and Employment
- In ‘Nickel Boys,’ striving for a new way to see
- 'Fresh Air' hosts Terry Gross and Tonya Mosley talk news, Detroit and psychedelics
Ranking
- 2 killed, 3 injured in shooting at makeshift club in Houston
- For the Third Time, Black Residents in Corpus Christi’s Hillcrest Neighborhood File a Civil Rights Complaint to Fend Off Polluting Infrastructure
- Temptation Island's New Gut-Wrenching Twist Has One Islander Freaking Out
- At a Global Conference on Clean Energy, Granholm Announces Billions in Federal Aid for Carbon Capture and Emerging Technology
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Tribes object. But a federal ruling approves construction of the largest lithium mine
- Janet Yellen heads to China, seeking to ease tensions between the two economic powers
- Trumpet was too loud, clarinet was too soft — here's 'The Story of the Saxophone'
Recommendation
All That You Wanted to Know About She’s All That
Fox pays $12 million to resolve suit alleging bias at Tucker Carlson's show
Microsoft says Chinese hackers breached email, including U.S. government agencies
A stolen Christopher Columbus letter found in Delaware returns to Italy decades later
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
Beloved chain Christmas Tree Shops is expected to liquidate all of its stores
Inside Clean Energy: The Idea of 100 Percent Renewable Energy Is Once Again Having a Moment
In 'Someone Who Isn't Me,' Geoff Rickly recounts the struggles of some other singer