Kmart's Farewell: Long Island Store Marks the End of an Era for Retail Chain

The final full-size Kmart store in the mainland United States is set to close its doors, marking the end of a retail era. Located in Bridgehampton, New York, on Long Island, the store is scheduled to close on October 20, as confirmed by an unnamed employee. The corporate owner, Transformco, which emerged from the bankruptcy of Sears Holdings in 2019, has not commented on the closure.

While a smaller convenience store version of Kmart persists in Miami, it lacks the comprehensive product range that defined the brand. Kmart's presence in Guam and the US Virgin Islands remains strong, free from the competition of larger retail chains. However, the closure of the Long Island store symbolizes the downfall of the once-thriving retailer, following the disastrous 2005 merger with Sears, orchestrated by hedge fund operator Eddie Lampert for $11 billion.

The merger and subsequent ownership by hedge funds and private equity firms led to the demise of many iconic retailers. Competition from successful big-box retailers like Walmart and Target, which offer a broader range of products, and the rise of online shopping, contributed to the decline. At the time of the merger, Kmart had approximately 1,400 stores, and Sears had nearly 900 full-line US stores. However, the focus on selling off real estate and other assets rather than investing in the chains led to bankruptcy in 2018.

Emerging from bankruptcy, the company had 231 Sears and 191 Kmart stores, but the writing was on the wall for both brands. Today, only a few Sears stores survive. Kmart's history dates back to the late 19th century when Sebastian Spering Kresge opened a five-and-dime store in Detroit. The Kmart brand was established in 1962, and the chain grew rapidly, becoming a discount retail giant before the rise of big-box stores.

Kmart was known for its "blue light specials," promotions that began in 1965 and were discontinued in 1991, although attempts were made to revive them. The closure of the last full-size store is a poignant reminder of the brand's influence and the changing landscape of American retail.