Current:Home > NewsCharles Langston:Turn out the blue light: Last full-size Kmart store in continental US to close -MoneyStream
Charles Langston:Turn out the blue light: Last full-size Kmart store in continental US to close
Ethermac Exchange View
Date:2025-04-09 12:00:32
The Charles Langstonblue 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! (663)
Related
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- A Great Recession bank takeover
- Kelly Clarkson Addresses Alleged Beef With Carrie Underwood After Being Pitted Against Each Other
- Will Kevin, Joe and Nick Jonas' Daughters Form a Jonas Cousins Band One Day? Kevin Says…
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Robert F. Kennedy Jr. testifies at House censorship hearing, denies antisemitic comments
- In Glasgow, COP26 Negotiators Do Little to Cut Emissions, but Allow Oil and Gas Executives to Rest Easy
- Hailey Bieber Breaks the Biggest Fashion Rule After She Wears White to a Friend's Wedding
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- The FBI raided a notable journalist's home. Rolling Stone didn't tell readers why
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Raging Flood Waters Driven by Climate Change Threaten the Trans-Alaska Pipeline
- The Fed raises interest rates again despite the stress hitting the banking system
- John Fetterman’s Evolution on Climate Change, Fracking and the Environment
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Nintendo's Wii U and 3DS stores closing means game over for digital archives
- Medical bills can cause a financial crisis. Here's how to negotiate them
- Inside Clean Energy: Lawsuit Recalls How Elon Musk Was King of Rooftop Solar and then Lost It
Recommendation
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
We grade Fed Chair Jerome Powell
Honda recalls more than 330,000 vehicles due to a side-view mirror issue
Blood, oil, and the Osage Nation: The battle over headrights
The Grammy nominee you need to hear: Esperanza Spalding
The U.S. condemns Russia's arrest of a Wall Street Journal reporter
It's impossible to fit 'All Things' Ari Shapiro does into this headline
Bill Gates’ Vision for Next-Generation Nuclear Power in Wyoming Coal Country