REHOBOTH BEACH, Del.- The Kmart store in Rehoboth Beach is going out of business. 

It's one of 96 Kmart and Sears stores closing nationwide and the only on Delmarva.

The announcement to close stores and streamline operations came Thursday from Transformco. The company bought nearly all the assets of Sears Holdings Corporation in February 2019.

Following the closures, Transformco will operate 182 stores.

According to the company, "going out of business" sales are expected to begin on Dec. 2.

The stores are expected to close by February 2020, Transformco said.