Will Lakewood's Kmart Close?

There's a chance Lakewood's Kmart may close.

The national chain has long been one of the most affordable department stores, but Sears Holdings Corp. will close up to 120 of its Sears and Kmart stores in a bid to reinvigorate business according to the company's web site, adding there are 10 Kmart locations within a 50-mile radius of downtown Washington.

Final determination of the stores to be closed has not yet been made. The list of stores closing will be posted at www.searsmedia.com when final determination is made.

Kmart experienced a 4.4 percent quarterly drop in 2011. The discount retail business saw a decline in consumer electronics and apparel categories and lower layaway sales while Sears noticed a dip in its consumer electronics and home  appliances, the press release stated.

Check back with Patch to see if the Lakewood Kmart will go close down.