New Albany Kmart store to close

The New Albany Kmart is one of 68 in the U.S. that will close. Sears Holdings said in a press release that nearly all will shut their doors by late July, including the New Albany retailer.

"The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability," said Edward S. Lampert, Chairman and CEO of Sears Holdings, in the release. "We're focusing on our best members, our best categories and our best stores as we work to accelerate our transformation."

Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores. 

Also, 10 Sears locations will close. The Clarksville store will remain open.

The closing Kmart and Sears stores will start their liquidation sales on May 12 and April 29, respectively.

The Clarksville Kmart closed following the 2008 holiday season, and the Jeffersonville location shut its doors a year later.