More Kmart stores will be closing this year, and Kokomo’s location is one of them.
The store, located at 705 N. Dixon Rd., will be permanently closed by the end of the year, according to a USA Today report, along with nearly 80 other Kmarts and 15 Sears stores across the country, including the stores in Richmond and Elwood.
Liquidation sales are expected to begin in mid-September, the paper reported, and most stores are expected to close completely in December.
The struggling department store has seen stores close consistently for months now.
This week’s closures announcement comes months after former Sears CEO Eddie Lampert struck a last-minute deal to buy Sears assets, which includes Kmart, out of bankruptcy and keep stores open under a new entity, Transform Holdco, also known as Transformco.
“As we continue our transformation efforts, we are working closely with our stakeholders, and evaluating our network of stores, operations and business strategy in order to stabilize the business and support a long-term path to profitable success,” Transformco said in a statement Friday.