Knox residents fear closing Kmart store could impact community

Knox residents fear closing Kmart store could impact community

Posted:
The parent company, Sears Holdings, has not yet named what stores will be closed. The parent company, Sears Holdings, has not yet named what stores will be closed.
"If they shut it down, for the community I think it will hurt poverty-wise because Kmart is the only people with layaway programs," said Dan Prince. "If they shut it down, for the community I think it will hurt poverty-wise because Kmart is the only people with layaway programs," said Dan Prince.
"[The store closing] would just be devastating," said Jean Dake. "[The store closing] would just be devastating," said Jean Dake.

By STEPHANIE BEECKEN
6 News Reporter

KNOXVILLE (WATE) - It was not the most wonderful time of the year for Sears and Kmart stores, as holiday sales did not meet expectations.

The parent company of the retailers, Sears Holdings, announced Tuesday more than 100 stores will be closed in 2012.

Though the company has not yet named what stores will be closed, some North Knoxville residents say they fear closing the Kmart on North Broadway would impact their community.

Dan Prince says he has shopped at the North Knoxville Kmart for 10 years. He lives and works near the store.

"I go in there at least two to three times a day for drinks snacks and to use the layaway program," said Prince.

Prince and other nearby residents say they hope the North Broadway store stays open because of the convenience and the impact its closing might have on the community.

"If they shut it down, for the community I think it will hurt poverty-wise because Kmart is the only people with layaway programs," said Prince.

Jean Dake also shops at the North Broadway Kmart each week. She says if it closes many people in the area will not have a store near by to get necessities, which is important for people who have difficulty getting around.

"It would just be devastating. I know my mom lived on Clinton Highway and when that one went out she was, 'Like, where do I go now?'" said Dake.

Sears Holdings says revenue fell 5.2 percent to date for the quarter. The declining revenue is blamed on a drop in clothing and consumer electronics sales.

The store closures are expected to generate more than $140 million in cash revenue sales.

Prince says he hopes the closures don't impact his hometown store.

"Hopefully Kmart, they'll change their mind and keep the stores open," he said.

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