CHATTANOOGA, TN. (Times Free Press) -- Kmart is closing its oldest remaining store in Chattanooga at the end of September.

Sears Holding Co., which said last year it will close up to 120 of its least profitable Sears and Kmart locations as part of a companywide cost reduction plan, is not renewing the lease on its 35-year-old Kmart store on Highway 58 in Harrison.

"The lease is up at this location and we're liquidating the merchandise (valued at $3.5 million)," said Kimberly Freely, director of communications for Sears.

The closing is among eight stores Kmart is closing in its latest round of cutbacks. Freely said the closings are cutting from 40 to 80 jobs at each store.

Read more on the story from our news partners at the Chattanooga Times Free Press.