A press release issued by the company stated, “This store is being closed because the lease was not renewed. Store closures are part of a series of actions we’re taking to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model.” Bowers added to the statement by noting K-Mart’s public relations officials informed him “it was a bit of an under-performing store.”
K-Mart believes these actions will better enable them to focus their investments on serving their customers and members through integrated retail – at the store, online and in the home.
Sixty-one area residents are directly affected by the announcement. K-Mart officials stated, “Those associates that are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores.” Most of the associates are part time/hourly.