Kmart in Oakland Park

Kmart store in Oakland Park in 2007. Photo shows wider aisles, new lighting and new products like Kenmore. Staff photo/Lou Toman, South Florida Sun-Sentinel. (Lou Toman / Sun Sentinel / June 25, 2007)

The Kmart store in Oakland Park is closing early November, the retailer announced Wednesday.

The store — at 670 E. Oakland Park Blvd. — will begin its liquidation sale Sept. 4. The store has been a neighborhhod staple since 1968.

The store employs 112 people, mostly part-time and hourly workers, Kmart said. Eligible employees will get a severance package and be able to apply for open positions at other area Kmart and Sears stores, the company said. Kmart and Sears merged in 2005.

Wal-Mart Stores, the world's largest retailer, bought the Kmart property in 2012 for $11 million. Wal-Mart plans to open a supercenter store at the site, but said it's still going through the approval process with the city.

The closure is part of a series of actions the retailer is taking to reduce ongoing expenses, adjust its asset base and "accelerate the transformation of our business model," Kmart spokesman Howard Riefs said.

"These actions will better enable us to focus our investments on serving our customers and members through integrated retail — at the store, online and in the home," Riefs said.

Broward County's only remaining Kmart store is in Hollywood at 3800 Oakwood Blvd. Palm Beach County is home to four other Kmart stores, in Boca Raton, Lake Park, Lantana and West Palm Beach.

The Oakland Park store is the only one that's closing, according to Kmart's spokesman.

mvalverde@tribune.com, 954-356-4526, Twitter @MiriamValverde