Apr 11, 2022 - Economy & Business

Kmart down to last 3 stores

A closed Kmart in New York’s East Village in July 2021.
A closed Kmart in New York’s East Village in July 2021. Photo: Spencer Platt/Getty Images

Kmart — once a retail giant with well over 2,000 U.S. stores — will be down to just three after its store in Avenel, New Jersey, closes on April 16, AP reports.

Why it matters: The retail world now is dominated by Walmart, Target and Amazon.

The big picture: Kmarts will continue to operate in Westwood, N.J., Bridgehampton, on New York's Long Island, and in Miami.

  • Kmart's decline has been steady: The company filed for Chapter 11 bankruptcy in early 2002, per AP, becoming the largest retailer to do so.

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