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The latest round of store closing by Kmart’s parent company, Transformco, which purchased the assets of Sears Holding Corporation earlier this year, will leave Long Island with just one Kmart location, as the Bohemia store is set to shutter its doors.
That store is expected to begin motions to close its doors next month. The only remaining Kmart location on Long Island will be on Montauk Highway in Bridgehampton.
"Since purchasing substantially all the assets of Sears Holdings Corporation in February 2019, Transformco has faced a difficult retail environment and other challenges," the company wrote in a statement.
"We have been working hard to position Transformco for success by focusing on our competitive strengths and pruning operations that have struggled due to increased competition and other factors. To support these initiatives, our owners (along with a third-party investor) have recently provided the company approximately $250 million in new capital."
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