Kmart, once a retail giant with over 2,000 stores, is closing its last full-scale mainland U.S. store in Bridgehampton, New York, leaving only a small Kmart in Miami.
Historically significant, Kmart filed for Chapter 11 bankruptcy in 2002, marking the loss of its 250 stores amidst fierce competition from Walmart and Target.
Although Edward Lampert acquired Kmart in a bid to revive the brand, the pressures of the 2008 recession and Amazon's growth ultimately quashed these efforts, leading to further decline.
The closure of Kmart's last full-scale store signifies a deep transformation in retail, reflecting broader trends that have favored discount giants and online shopping.
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