A Massive Retailer Is Now Closing A Location in Colorado

A massive retailer is now closing a location in Colorado leaving officials to speculate the reason behind the surprising closure.

Giant retailer, Walmart is shutting down its Colfax Avenue location in Aurora, Colorado, on June 7, and many are worried about the closure.

Aurora Mayor Mike Coffman took to Facebook to note that crime could be a factor in the retailer’s decision.

“I’m disappointed that they would not give me an answer as to why the store was closing, although I know that the Colfax and Havana area is the most difficult area in the city of Aurora in terms of crime,” he wrote on a Facebook post.

In a different post, he went on to compare Walmart with another local grocery store.

“A key difference between Lowe’s Mercado and Walmart’s Neighborhood Market is that Walmart has a reputation for being tolerant of shoplifting while Lowe’s Mercado’s policies don’t tolerate it,” he wrote.

However, Senator Rhonda Fields, said she had never seen that behavior in action when visiting the store herself.

“When I go into the store, I don’t see people stealing,” Fields told local ABC affiliate KMGH-TV.

“So to give the impression that people in this neighborhood steal and they’re closing because of theft is something that I have not been able to verify.”

A Walmart spokesperson revealed there were multiple causes for the closure, but did not list crime as one of them.

“There is no single cause for why a store closes and our decision is based on several factors, including historic and current financial performance, and is in line with the threshold that guides our strategy to close underperforming locations,” a Walmart spokesperson said in a statement

Despite the reasoning, Fields believes this could create a huge issue for the neighborhood.

“This is going to devastate the community, in my view, because this Walmart was like a lifeline,” said Fields.

Some customers are hoping another grocery store can come in to replace Walmart.

“Hopefully, we can come up with a new plan to open a similar store for this area,” Kay Abdul, a local truck driver told the station.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - A Massive Retailer Is Now Closing A Location in Colorado.
Market News Today – A Massive Retailer Is Now Closing A Location in Colorado.

An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.

TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.

This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.

The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.

Today, Fridays will welcome in famished diners at its location in Brick for the final time.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.

“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”

Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.

“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.

“Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise,” said Ray Risley, US president and chief operating officer, in the release.

Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.

The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Massive Retailer Is Now Closing A Location in Colorado.
Market News Today – A Massive Retailer Is Now Closing A Location in Colorado.

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