Kmart, the once competitive retail giant, plans to close its last full-scale store in New York on Sunday.
The soon-to-be-closed Kmart store in Bridgehampton will join the graveyard of previously popular retailers like Toys R Us, Bed Bath & Beyond, and Sears, as shelves are empty and last-chance sales are underway. CNN Reported.
“When we were kids, this was our go-to place,” Cherry, a customer who visited the Kmart store before it closed, told the store. “If you need anything, come back here multiple times a week, sometimes on the same day. We used to come here with friends.”
The former retail giant known for its blue light specials is closing its last full-scale store in the continental United States. https://t.co/PRkYLC7TOP
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The store says discounts at Kmart after the store closes are advertised as up to 70% off, and sales are very limited.
“I always liked the price. I'm sad to see it go,” shopper Sarah Bullock told CNN. “When I think of Kmart, I think of bargain products.”
According to the outlet, the Kmart brand began in 1962 when founder Sebastian Spelling Kresge opened more than five stores in Detroit. The last remaining Kmart store in Bridgehampton opened in 1992. (Related: Walgreens to close 1,200 stores)
Kmart made some bold financial decisions in the early 1990s, including acquiring Sports Authority, most of OfficeMax, and book retailer Borders. In 2002, Kmart, which had 2,100 stores, filed for bankruptcy, making it the largest bankruptcy for a U.S. retailer at the time, CNN reported.
Kmart, which had about 1,400 stores, merged with Sears, a retailer with nearly 900 stores. This led to a bankruptcy filing in 2018. After emerging from bankruptcy, Sears had 231 stores, while Kmart had 191. Today, there are only a handful of Sears stores left.
“We need stores like this,” Arnone, who visited Kmart before it closed, told CNN. “There's nothing in the Hamptons that the average person can shop for.”
Other previous customers recalled Kmart's low prices and shopping at this store with their families.
“I remember going shopping at Kmart with my dad. We used to buy everything here,” said shopper Jessica Cohan, who had her 4-year-old son in the cart. “But now, like everyone else, I tend to shop online. It's much more convenient.”
“Everything is very expensive here,” Victoria Black, another regular customer, told CNN. “I wanted a store like this.”
