A formerly dominating retailer is set to close its final store in a key market. This fall, Kmart in New Jersey will close its final shop.
Walmart Competitor, Kmart in New Jersey Will Close Soon in No Specific Date
The final Garden State Kmart in New Jersey is in Westwood, about an hour north of New York City. At its peak, the Walmart competitor had nearly 2,000 sites across the country. However, those figures have dropped significantly as its parent company, Sears, has been bankrupt since 2018. Five other Walmart sites in New Jersey have closed since 2019, leaving the Westwood facility as the only one open.
Other locations were Belleville, Somers Point, Kearny, Wayne, and Trenton. The Kmart in New Jersey has not confirmed a specific closing date but has stated that the shop will close no later than September or October. According to NorthJersey.com, the location already has “everything must go” signs up. Kmart fans in the New York metropolitan area are unable to shop in the city.
COVID-19 Outbreak Affects Several Establishments Resulting to Closure
The last Kmart in New York City closed nearly two years ago. Sears and Kmart are far from the only once-dominant retailers to file for bankruptcy and close hundreds of stores. Other former shopping staples have failed to deal with both a long-term e-commerce challenge as well as supply chain and other disruptions caused by the COVID-19 outbreak and its aftermath. Many companies have declared bankruptcy, including Sears.
Bed Bath & Beyond, for example, announced its bankruptcy and ongoing liquidation sale earlier this year. BuyBuyBaby, its sibling store, is also involved in the process. More stores have been impacted. Party City has also filed for bankruptcy and is closing locations across the country. Unlike Bed Bath & Beyond, Party City is attempting to avoid bankruptcy. Many pharmacies have also closed.