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Kmart Starts Inventory Liquidation Sale at Cedar Rapids Store

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    April 3, 2014 | 10:47 am
    CEDAR RAPIDS, Iowa - With a planned mid-December closing date, the Kmart store at 180 Collins Rd. NE in Cedar Rapids launched its inventory liquidation sale on Monday.

    Sears Holdings, owner of Kmart, said last month that the 43-year-old store will close after its lease was not renewed by RCG Ventures in Atlanta, Ga., owner of the shopping center. The store's 56 employees will have the opportunity to apply for positions at other Kmart and Sears stores.

    Kmart will continue to operate stores in Dubuque, Iowa City and Waterloo.

    Sears Holdings closed its Kmart at 2727 16th Ave. SW last year. That store was built in 1969.

    The closing of the Collins Road Kmart appears to be connected to redevelopment of the 146,167-square-foot retail complex.

    Erin Rabe of RCG Ventures confirmed the company has plans for the shopping center, but she was not able to comment due to confidentiality agreements with potential retail tenants.