The Ft Payne K-Mart will be closing its doors June 1st – that according to Sears Holding – which made the announcement Wednesday (February 19th). 

A company official said the store is being closed because the lease wasn’t renewed and that store closures are part of a series of actions the company is taking to reduce on-going expenses, adjust their asset base and accelerate the transformation of their business model.

The store currently has 55 employees, and they will be eligible to receive severance and have the opportunity to apply for open positions at area Sears or K-Mart stores.

Ft Payne Mayor Larry Chesser calls the closure disappointing and stated there’s nothing slated to go into the building at the time.

Chesser said he spoke with the property owner and the lease runs through August (2014).

(Ft Payne Times-Journal/www.times-journal.com)