Kmart, once a retail giant known for its Blue Light Specials, is closing its last full-scale store in the mainland United States. The store, located in Bridgehampton, New York, is set to close on October 20. This closure will leave only a small Kmart store in Miami, with a few stores still operating in Guam and the U.S. Virgin Islands. The owner of Kmart, Transformco, did not respond to requests for comment.
At its peak, Kmart had over 2,000 stores in the U.S. However, the company struggled to compete with Walmart and Target, leading to a Chapter 11 bankruptcy filing in 2002 which resulted in the closure of over 250 stores. After being combined with Sears by hedge fund executive Edward Lampert, the company faced further challenges due to the 2008 recession and the rise of Amazon.
Sears also filed for Chapter 11 bankruptcy in 2018 and now only has a few remaining stores in the U.S. Despite efforts to revive the once iconic brands, they have been unable to overcome the changing retail landscape. The closure of the last mainland Kmart store marks the end of an era for the retail chain.
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