Dying retail icon will close its final full-size American store in coming weeks

Former retail elephantine Kmart volition adjacent the doors connected its past full-size American store successful the coming weeks.

The section store concatenation has operated for 125 years, selling products ranging from from apparel and appliances to hardware and electronics.

The store's genitor institution filed for Chapter 11 bankruptcy successful October 2018 and had 202 stores sold to Transform Holdco, with the remainder liquidated. Eventually lone 2 stores remained successful the United States.

The Kmart successful Bridgehampton, New York volition permanently adjacent connected October 20 aft 25 years successful operation, an worker said.

Occupying 89,935 quadrate feet, Kmart is the largest big-box discount store successful the Hamptons.

A smaller Kmart store successful Miami remains open, but operates much arsenic a convenience store.

Kmart has gradually been closing its stores since it merged with Sears successful 2005 nether the absorption of hedge-fund CEO Eddie Lampert. The store's genitor company, Sears Holdings, filed for Chapter 11 bankruptcy successful 2018. 

Department stores person struggled to accommodate to the changing user landscape.

Problems specified arsenic monolithic indebtedness and inefficient operations were compounded by the COVID-19 pandemic, speeding up the diminution of respective retailers that struggled to support their customers and their changing preferences, CB Insights reported.  

With radical electing to store online due to the fact that of the convenience of having a merchandise delivered to their doorstep, it became harder for companies to vie for customers. 

Stores similar Sears, Kmart, Borders Books and Music, Toys R Us, Sports Authority, Lord & Taylor and Bed Bath & Beyond each struggled to adjust.

Kmart's store successful Hyannis, Massachusetts closed successful 2021. It continues to run extracurricular the United States successful the US Virgin Island and Guam.

The announcement comes weeks aft discount location goods retailer Big Lots filed for bankruptcy, raising questions implicit the aboriginal of its 1,400 stores.

A full of 21 large US retailers and edifice chains filed for bankruptcy successful the archetypal fractional of this twelvemonth - the astir since the pandemic wrecked havoc connected businesses successful 2020, S&P said successful a July report.