Just one little Kmart place will remain in the country as a result of Kmart closing its final full-scale store. The final full-size business owned by the renowned department store chain is expected to close in October.
On Sunday, a Kmart individual confirmed to WJAR that the Kmart place in Bridgehampton, New York, may be completely closing on October 20, 2024. The Bridgehampton location’s owner, Kimco Realty Corp., likewise confirmed to Newsday that the business may shut down in October. The Bridgehampton site has been in operation for 25 years, according to Newsday.
The Kmart shop at Kendale Lakes Plaza in Miami, Florida will be the only remaining Kmart place in the continental United States now that the final full-size keep did close in Bridgehampton, New York. Kmart may even still have several locations in the United States Virgin Islands and Guam, according to WJAR.
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According to The Miami Herald, the Kmart location in Miami was recently reduced to a small portion of the initial department store that was the company’s garden section. The outlet noted that At Home is now leased to the majority of Miami Kmart’s initial store.
According to Fox Business, the memorable department store chain had practically 2, 300 sites in the early 1990s, but, Kmart filed for bankruptcy in 2002 due to merging with Sears. According to The New York Post, billionaire hedge fund manager Eddie Lampert purchased Kmart’s debts and assisted in shepherding the business through the merger with Sears.
The New York Post noted that while Lampert was able to understand the merger between Sears and Kmart, the firm, which became known as Sears Holdings, suffered from antiquated department store infrastructure, poor customer service, and a limited supply. As a result, Sears Holdings filed for Chapter 11 bankruptcy in 2018.
