Kmart Extinct In The Wild!

Kmart can't be saved.

As of today, there is only one Kmart in the United States, one in Guam and three in the U.S. Virgin Islands. It is expected the Miami location to close by late 2024.

The New York location has officially closed. 

Bridgehampton was the last store in the state and it will shutter at 10pm.

Kmart joins the list of once iconic retailers, such as Toys “R” Us, RadioShack, Pier 1, Bed Bath & Beyond and most of what’s left of Kmart’s corporate sibling Sears, once-successful chains that used to populate America’s malls and shopping centers but have ended up in retailing’s graveyard in recent years.

Eddie Lampert colossially screwed up the Sears and Kmart brands. On top of that these private equity firms were the reasons why these two iconic companies went out of business.

At its peak, Kmart was the second largest retailer. It had over 2,500 stores.

The company couldn't keep up with Walmart, Target, Amazon and Costco.

The company did not update their standards and remodel their stores to appeal to suburban shoppers.

Transformco, the company that in 2019 bought the assets of Sears and Kmart out of the bankruptcy of Sears Holdings, did not immediately respond to an email requesting comment.

The 2008 recession and the rising dominance of Amazon contributed in derailing that mission. Sears filed for Chapter 11 in 2018 and now has just a handful of stores left in the U.S., where it once had thousands.

As of today, Sears has eight locations in the United States.

Oh more bad news in retail. 

Rite Aid is expected to close more locations as the company is on it's way out, they emerged out of bankruptcy. Walgreens is expected to close over 1,500 stores. CVS Health is expected to close 900 stores. The big pharmacies siphoned out the smaller ones and now leave communities in a bind. 

Save A Lot stores no longer operate under their brands in several states. They will license their products to independent grocers. 

Big Lots has announced they will close 50 stores upon its sell to a private equity firm.