It’s been a Kmart, then a Sears Essential and then a Kmart again. Soon it will be … closed.
Kmart is closing its San Clemente location and one in Oceanside. According to company spokesman Howard Riefs, the company needed to cut costs.
“The store closures are part of a series of actions we’re taking to reduce ongoing expenses, adjust our asset base and accelerate the transformation of our business model,” Riefs said.
Kmart Holdings Corp. purchased Sears, its longtime primary competitor, in 2005, forming the new Sears Holdings Corp., according to the Sacramento Bee. Investors hoped the purchase would boost to both chains, “but the recession prompted a series of belt-tightening moves that continue to this day,” the paper said.
San Clemente’s liquidation sale began Sunday but will continue through mid-January, Riefs said. A flier on the front door says Kmart's regularly scheduled specials will not be honored in San Clemente.
A total of 58 people are employed locally, Riefs added. They will have opportunities to apply at other Kmarts and Sears.