The Reynoldsburg Kmart is one of 108 stores nationwide that will close at the end of March, the company announced Jan. 4.
A liquidation sale began Jan. 6 at the Reynoldsburg store, 1284 Brice Road.
Reynoldsburg Development Director Dan Havener said the store closing is unfortunate but not necessarily a surprise.
"It's been this hearsay issue for quite a while in the community. We thought more than likely it would happen at some point in time," he said. "We hate to see the job losses."
Havener said he remains optimistic, however, because of the location.
"I think this will be a great new opportunity for the city of Reynoldsburg," he said. "The Kmart is in a great location between Brice and Main Street. I see nothing but positives for the redevelopment of that site and we look forward to working with the developers."
The Gilbert Group Real Estate of Columbus, which owns the space, will discuss future plans for the site with Havener.
Havener said this is part of a larger "unfortunate retail situation right now" that a lot of other chain retailers also are facing.
Sears also announced it also would close 42 Sears stores. In addition, Macy's recently announced it would two central Ohio stores (Eastland and the Mall at Tuttle Crossing), and The Limited is closing all stores.
In a press release from the company website, officials said the decision to close stores is a difficult but necessary step.
"Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success," officials said in the release.
"Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart stores."
In addition to the Reynoldsburg stores, other Kmarts in Zanesville, Mount Vernon, Kenton, Gallipolis, New Boston and St. Clairsville will close.
The Sears closures in Ohio include stores in Lancaster, Chillicothe, Akron and Richmond Heights.
A typical Kmart store being closed employs 40 to 80 associates.