(StraightShooterNews.com) – The Biden-Harris administration’s abysmal economic policies have caused yet another closure: the last full-size Kmart store in the continental U.S. will shut its doors in Bridgehampton, New York, on October 20.
Once a retail giant, Kmart’s decline puts the current administration’s failures on full display. The nation watches as another piece of American history fades away.
Kmart was once a force to be reckoned with in the retail sector, with around 2,300 stores and approximately 350,000 employees at its peak.
The Bridgehampton store is one of the last full-size Kmarts and will close after 25 years of service, marking the end of an era for many who recall Kmart’s glory days.
The only remaining Kmart in the mainland U.S. will be a smaller convenience store-like location in Miami, Florida.
This specific store offers basic necessities but lacks the grandness and variety that Kmart once provided.
This shift underscores how dramatically the retail landscape has changed in the past four years under a Democrat White House.
Kmart has struggled since merging with Sears in an $11-billion deal in 2005. Both brands faced significant financial difficulties, forcing Sears Holdings to file for Chapter 11 bankruptcy in 2018.
Transformco acquired Sears Holdings’ assets in 2019, but this acquisition did little to revive the diminishing retail giant.
Kmart’s failure to modernize and adapt to changing consumer habits played a significant role in its decline.
Competition from retail titans like Walmart and Target further worsened Kmart’s struggles. The company’s slow adoption of e-commerce and failure to innovate have left once-loyal customers seeking other options.
Founded in 1899 by Sebastian Spering Kresge, Kmart expanded rapidly under Harry Cunningham in the 1960s.
The first Kmart store opened in 1962, the same year as Target, Walmart, and Kohl’s. With 2,300 stores, Kmart became the largest discount retailer in the U.S. by the early 1990s, but it began to falter around 2000.
The 89,935-square-foot Bridgehampton store was the largest big-box discount store in the Hamptons.
Opened in 1999 in a location previously occupied by Caldor, another extinct discount retailer, this Kmart has been a staple for local shoppers seeking affordable products.
The store’s closing will leave a significant void in an area dominated by high-end boutiques and mom-and-pop shops.
As communities brace for the loss of their local Kmart stores, it serves as a stark reminder of how fragile American retail can be under negative economic conditions.
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