"It is normal in the course of doing business that we review whether leases should be renewed," Freely said. "Performance goes into that, but there are landlord and other considerations that are also a part of that. Many different factors go into making this decision."
Freely said the store will no longer accept layaway orders, effective immediately. A liquidation sale will begin Jan. 14.
Several shoppers said Monday that they are disappointed that their discount shopping options will be further limited as the holidays approach.
April Humes of Crab Orchard works at Centre College and said she typically visits the store once a week.
"With this economy, it's kind of hard for people to shop," Humes said. "Their layaway program allows a lot of people to pay for things they might not buy otherwise."
Cindy Staton and Mary Denson often make the trip to Kmart together from Moreland.
Limited shopping options
"All this leaves for lower prices is Walmart and maybe Big Lots," Denson said. "I come here a lot. It will definitely change the way I can shop."
Kmart was one of the last large retailers occupying the Ridgefield Shopping Center, which lost other tenants recently when Goody's and Rite Aid closed and Hibbett Sports relocated to a larger space in Danville Manor Shopping Center.
Jody Lassiter, president and CEO of the Danville-Boyle County Economic Development Partnership, said he has been assisting in recruiting retail businesses to the shopping center.
"We are working with the developers at Ridgefield Shopping Center as they redevelop the space there, which already included the former Goody's location," Lassiter said. "I think there are some exciting possibilities for what we can do as far as back-filling that space."