The city has received word long-time retailer K-Mart is closing around late January. It has been a staple Vermillion Plaza for 40 years.
But more recently, the chain has been shutting down under performing stores nationwide.
In Pontiac, about 50 people are losing their jobs. However, many of those people are part-time or seasonal positions.
Others are getting severance packages or the option to apply for jobs at other locations.
One shopper told WMBD 31 he has concerns about his holiday gifts on layaway.
Javaris Lindsey said, "It looks like I can't be late on my payments or all is lost. So that's a question I have for them when I go in there."
A K-Mart spokesman said it should be business as usual for layaway customers. Anyone with questions can call the store.
City leaders said Monday they hope to extend a tax increment financing district to the plaza to promote redevelopment.
Its goal would be to generate new tax revenue then redirect it to improvements and growth.