Kmart To Close In Huntington

And the hits keep coming for once mighty national retailers. The latest news came Thursday when the company Sears Holdings announced it will close its Kmart location in Huntington.

The Huntington store, located at 805 New York Ave., is set to close in February 2019. It is the only Long Island store among the 40 that will close in this round of store closings.

Liquidation of these stores are expected to begin late this week, the company says.

Sears and Kmart has closed a number of its Long Island stores in recent years as the company battles a rise in online shopping that has slashed its profits. Sears Holdings previously announced the closing of an additional 142 unprofitable stores earlier this year.

Sears Struggles

Sears, the struggling 125-year-old retailer, announced it filed for Chapter 11 bankruptcy last month, causing another 142 stores to close nationwide.

The retailer, which has been forced to close hundreds of stores in recent months, said at the time it will close unprofitable locations near the end of the year. Those closings are in addition to 46 locations that were already set to close by the end of November.

The company is seeking a buyer for the majority of its remaining stores but said locations will remain open for the holiday shopping season. CEO Edward S. Lampert has stepped down effective immediately but remained chairman.

"Over the last several years, we have worked hard to transform our business and unlock the value of our assets," said Lampert said in a statement issued early Monday. "While we have made progress, the plan has yet to deliver the results we have desired, and addressing the Company's immediate liquidity needs has impacted our efforts to become a profitable and more competitive retailer.

"As we look toward the holiday season, Sears and Kmart stores remain open for business and our dedicated associates look forward to serving our members and customers," Lampert added.
Sears, which last year sold off its famous Craftsman brand, has about 700 remaining stores and 68,000 employees —down from the 1,000 stores and 89,000 workers it had in early 2018, according to CNN.

Shannon Antinori and Joe Vince, Patch Staff, contributed to this report.

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