Kmart, once a retail giant with over 2,000 stores in the U.S., will close its last full-scale mainland store in Bridgehampton, NY, on October 20.
The decline of Kmart began in 2002 with its Chapter 11 bankruptcy protection filing, failing to compete with Walmart and Target, leading to the closure of over 250 stores.
Transformco, the company that acquired Kmart and Sears assets after their bankruptcy, has seen Kmart's presence dwindle to only a small store in Miami and a few in U.S. territories.
Attempting to revive Kmart through Sears and Kmart's merger did not succeed, hindered by the 2008 recession and Amazon's market dominance, leading to significant store closures.
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