The Riverhead Kmart store will close in November.
The store was on a list of 46 Sears and Kmart store closures released today by parent company Sears Holdings.
Liquidation sales will begin as early as Aug. 30, the company said in a statement.
The closings are part of the company’s ongoing efforts to streamline operations and strengthen its capital position, Sears Holdings said. Associates at these unprofitable stores were informed this week of the pending closures, according to the statement. Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores, the company said.
On May 31, Sears Holdings reported a $424 million first quarter loss. It has already shuttered more than 160 Sears and Kmart stores this year so far.
After Sears Holdings announced in December 2016 it would close 109 Kmart and 41 Sears stores — which followed the closing of 140 Kmart stores and 30 Sears stores during the first three quarters of 2016 — the Manhattan-based manager of the Route 58 property put the Kmart store on the market for rent.
A spokesperson for Feil Organization, which manages the East End Commons site where Kmart and BJ’s are located, told RiverheadLOCAL in January 2017 the property was listed for rent because of Sears Holdings’ continuing struggles. He said the existing lease on the property didn’t end until February 2020.
A Sears Holdings spokesperson said at the time the company had no intention of shuttering the Riverhead Kmart store.
“We will continue to serve our members and customers as we have for the last 21 years,” director of corporate communications Howard Riefs said.
The Kmart space becomes the latest large retailer casualty along Route 58, where Sports Authority, Waldbaum’s and Toys R Us have closed. ShopRite is opening in the former Waldbaum’s location, but Sports Authority and Toys R Us remain vacant — as does the space formerly occupied by Walmart, which moved to a newly constructed building on the western end of the highway.