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The U.S. “retail apocalypse” has led to the downfall of many iconic chain stores.
Kmart, which operated 2,300 locations in the 1990s, will close its last full-scale store in the continental U.S. on Oct. 20 in Bridgehampton, New York. After this closure, only a smaller Kmart in Miami and three locations in the U.S. Virgin Islands will remain.
Kmart first filed for bankruptcy in 2002, unable to compete with Walmart’s low prices and Target’s trendier products. After merging with Sears, it filed for bankruptcy again in 2018.
Kmart now joins other struggling chains, such as Bed Bath & Beyond, Lord & Taylor, Modell’s Sporting Goods, and Pier 1 Imports, some of whom had filed for Chapter 11 Bankruptcy.
A store employee reached by phone on September 22 confirmed the Kmart store in the Hamptons in Bridgehampton, New York would close permanently on October 20, 2024.https://t.co/yFbreZFaTM
— KATU News (@KATUNews) September 23, 2024
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