By Aaron Blevins, Reporter-Times
MARTINSVILLE - The Martinsville Kmart will be closing on Nov. 15 after the company declined to renew its lease with the owners of the building.
"An agreement was not reached," Kmart spokesperson Kim Freely said. Store representatives told employees about the closing Thursday.
Freely said the Martinsville location in Martinsville Plaza is the only one closing.
Freely said approximately 48 employees are employed at the retailer on Burton Lane.
"We're hopeful those associates will take positions at nearby Kmart and Sears locations," she said. She said those employees who qualify for a severance will receive one.
Mayor Phil Deckard said he was notified that Kmart would be closing in Martinsville by the executive office of Sears on Thursday. Kmart Holding Corp. and Sears, Roebuck and Co. had merged at the end of 2004, according to a press release.
Deckard said the city of Martinsville is in conversation with Sears to see if the city can offer anything to help the company keep that location open.
"It appears they've already made their decision," he said today. "We were saddened by this news. That's another loss to the community. ... We certainly don't need another vacant building in Martinsville."
Deckard said the Sears office had told him the closure was a result of the economy, and he referenced Kmart's March announcement that it would be closing a few hundred stores.
"We escaped the first batch," Deckard said.
According to the Morgan County Auditors Office, McDaniel & Hahn is the owner of the property that houses Kmart.
There are no other Kmart locations in Morgan County. The closest stores are in Bloomington, Indianapolis and Greenwood.
With the closure of Kmart in Martinsville Plaza, that shopping center's largest anchor store location will be left vacant for the first time since the shopping center was built.