Carving Up Retail
Kmart was at one time the second-largest retailer in the U.S. After two bankruptcies, one as a Sears subsidiary, and a growing number of store closures, the big box department store finds itself on a gradual slide into liquidation.
After 43 years in the same location, a local Kmart closed its doors at the end of 2019. The 45,000-sq foot store – far too small of a store footprint for Walmart or Target but too large for most other retailers - anchored the town’s most visited shopping plaza. Its closure led many to fear that another small town had fallen victim to e-commerce.
Such fears ended up being misplaced.
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