A major retail chain that once operated thousands of stores worldwide is on the brink of collapse, with just one location remaining in New York State.

America has watched helplessly as numerous retail juggernauts permanently close their doors. A recent example is the major grocery chain Stop & Shop, which confirmed its closing dozens of "underperforming" locations.

KLH49 from Getty Images Signature
KLH49 from Getty Images Signature
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And just last month, Central New York said goodbye to  Retro Fitness in Yorkville, Wheelock Rides out of Syracuse, 140-year-old Freihofer's Bakery and the BNY Mellon in Oriskany Business Park.

Also this year, New York bid farewell to its last Sears.

Sears isn't the only major retail company struggling to stay afloat these days. Companies like JCPenney, Joann Fabrics, Macy's and more are also fighting tooth and nail for survival - and that often means closing down locations to save money. That happens to be the case with Dollar Tree and Family Dollar.

Read More: Two Discount Retailers Announce Abrupt Closure of 1,000 Stores

Now, it appears the Grim Reaper of retail is coming for the famous chain that coined the phrase "Blue Light Special."  Kmart, which dominated the retail scene up to the mid-00s is down to just two stores in America.

Not even its viral 2014 commercial could save it from teetering on the edge of bankruptcy.

And that commercial was so successful, it got its own holiday remix using the same cast.

During its peak in 1994, Kmart operated nearly 2,500 stores globally, employed 350,000 people, and reported $37 billion in revenue - making it the 15th-largest corporation on the globe.

It has one location in Miami and the other is located in Long Island, New York, after closing its final New Jersey store. Fans of the chain can try to seize blue light special details at 2044 Montauk Highway in Bridgehampton.

New Revamped Kmart Stores To Sell Sears Brands
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Like all other retailers, Kmart has turned to online shopping for survival, but it still struggles to compete with companies like Amazon and Walmart. It also faces pressure from discount chains Target and Walmart, which first forced the chain to declare bankruptcy in 2002.

For example, Kmart is selling a Panasonic microwave for $509, after discounting the original price by 15 percent. That same device is being sold on Amazon and Walmart for $359.97.

So it seems customers continue to shop at Kmart for the nostalgia and maybe some decent specials - but even those "hot deals" are no match for the prices one can find at Amazon or Walmart.

That being said, if you wish to step foot in a Kmart before the inevitable happens, at least you won't have far to travel to enjoy one last blast of 90s nostalgia.

At least we'll always have the infamous "Show Your Joe" holiday commercial...

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