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Streetsboro’s Kmart store will soon close.
On Tuesday, a source with Sears Holdings, the parent company of Kmart, said that the company would close 66 more stores throughout the U.S., including the last remaining store in Portage County.
The closings are part of a campaign to make both Kmart and Sears stores more profitable, a source told USA Today.
Streetsboro Mayor Glenn Broska said he’s sad to hear that the store would be leaving.
“Kmart has been here since I was a child. I remember when it was the only game in town, and when we got excited when it came,” he said.
Tuesday’s announcement includes 49 Kmart stores and 17 Sears stores, with most set to close around September of this year. Those closures follow 180 previously announced closures by the company.
Broska said the city’s economic development team is already looking for potential tenants for what he called “a prime location with a lot of business potential.”
The Kmart location on S.R. 14 joins the growing list of large retail space in the city. Last month, the Market Square Plaza, northwest of Kmart bound by state routes 43 and 14.
News of the latest round of closures was first reported by Business Insider, according to USA Today. Sears Holdings, the parent company of Sears and Kmart, had no comment on the situation.
In January, a list of 108 underperforming Kmart stores of Sears Holdings were set to close. In May the list grew by 18. Each time, the Streetsboro store was safe.
“They’ve survived the cuts this long and I guess it’s time,” Broska said. “It’s sad to see them go, and those are good jobs. But we’ll find something to go in that space when the time comes.”