The K Mart store at 1776 E. Lincoln Highway has closed and it's not coming back. Today, May 25 2014 was the last day. There were deals to be had but more important are the 84 jobs that are lost when the store is closed. This place was there since almost forever.
In February, it was announced that this is one of the locations of stores that K Mart was going to close. When that happens, a liquidator comes in and it's not technically a K Mart anymore. Coupons and circular specials are not valid. Instead items are sold at 10 to 30 percent off list price. This is not big deal but it is the time when liquidators make all their money from suckers thinking they got a great deal.
For example, cooking item be had in any K Mart for about 19.00. They are really $29.99 but with discounts the price is $19.99. A liquidator will sell that item for $23.99. It will sit there until someone buys it. If it sits too long, the price drops. It's not until about 2 weeks before a store is closing that prices will move to 50 to 60 percent off. Remember that everyone is selling that item for $19.99 and soon the liquidator may price it at $19.99 as well. When it still does not move, it's time to lose money. They lose cash on the cooking item they finally sold for $10.50 but more than make it back with all the other items that moved out the door.
That is what happened today. By 10:30 a.m . the store was just about out of toilet paper. Yesterday they were selling a 12 pack for $1.59. There were hundreds of packages of them. They did not move until today when the price was cut again to $1.19. People were buying dozens of rolls. in fact one man was a pig about it by purchasing every complete case in the store. Had there not been other lose packages, he would have gotten hurt, as people were getting angry about his piggish attitude. K Mart management said "It was first come first serve", when they were asked about it. There was a smattering of clothes, a few men's sweaters for about $5.00, ladies slacks for about the same.
A few books remain,some of these were map books, or best sellers. They could be had for about $8.00 as opposed to the $34.99 list.
Most retailers are moving to online. Drop shipping. It's cheaper. They save on employees and rent money. That translates to lost jobs and lost tax base. K Mart.com is an example. The Langhorne customers can shop in their underwear without leaving the house. It's free shipping too . It's not just K mart but all retailers are doing this. Shoppers will gladly go to Cy's store online and buy that item they wanted cause they have the cheapest price. They will even ship it for free.
So what ever will be built in the huge big box store that was K mart is anyone's guess. Prospective clients can look around. It that store does not appeal to them they only have to go down the road a half a mile, where The Dump is closing up shop as well and taking more than 30 jobs as well.
THIS ARTICLE AND PHOTO ARE COPYRIGHT BY ALEX LLOYD GROSS AND MAY NOT BE REPUBLISHED OR RE POSTED IN ANY OTHER MEDIUM WITHOUT PRIOR PERMISSION. LINKING BACK TO THIS ARTICLE IS ENCOURAGED AND PERMITTED.