A massive retailer now confirms closure in Wisconsin in just weeks after the company deemed the location to be ‘underperforming’.
Walmart bosses have confirmed that one of the chain’s stores in Milwaukee is to close in weeks.
A Neighborhood Market outlet in the Wisconsin city has reportedly been underperforming.
It’s set to close its doors for good on May 17, per The Milwaukee Journal Sentinel.
Walmart officials reportedly told city chiefs Wednesday that the Neighborhood Market store will be closing.
Shoppers should not despair about the pending shutdown as Walmart has a superstore less than five miles from the Neighborhood Market.
“It’s important to note that we have 11 other locations in the Milwaukee area and one Supercenter within 3 miles of this location,” a spokesperson told the Journal Sentinel.
Bosses have not put a single factor in explaining why the store is shutting up shop, reports The US Sun.
“We consider many factors, including current and projected financial performance, location, population, customer needs, and the proximity of other nearby stores when making these difficult decisions,” they added.
Executives said there was a careful review before the decision was taken.
However, staffers will have the opportunity to move to another store.
Walmart Neighborhood Markets have been a constant since 1998.
The outlets are around a fifth the size of a traditional Walmart supermarket.
But the stores have been hailed for their local produce and they offer pharmacy and deli services, per Business Insider.
The shutdown of the Milwaukee Neighborhood Market store will come just weeks after a Walmart store in Granite Bay, California, closed.
“This decision was not made lightly and was reached only after a careful and thoughtful review process,” Alicia Anger, communications director for Walmart told The Sacramento Bee.
Dozens of workers were given the option to move to another store.
While those who did not take that option are in line for severance pay.
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Other Economy News Today
An essential retailer is now making more painful closures nationwide after the giant filed for an unexpected bankruptcy in October.
Rite Aid filed a notice in the U.S. Bankruptcy Court for the District of New Jersey on April 16 seeking to close 13 additional stores located in the East and Midwest, reports TheStreet.
The notice identified six stores in Pennsylvania, three in Ohio, two in New Jersey and one each in New York and Virginia.
The additional store closures bring the amount of shuttered locations to 322 of the original 2,100 stores that were open when the company filed for Chapter 11 bankruptcy on Oct. 15, 2023.
Rite Aid, which listed $3.3 billion in debt in its petition, filed bankruptcy facing tight co from rivals including CVS, Walgreens Boots Alliance, Walmart, Costco, Amazon, and investor Mark Cuban’s CostPlus Drug.
The company was also a defendant in a civil lawsuit filed against it by the Department of Justice in March 2023.
They alleged that the chain’s pharmacists inappropriately filled opioid prescriptions, contributing to the opioid epidemic.
The bankruptcy filing provided an automatic stay of any further legal action against the debtor in the lawsuit.
Rite Aid seeks to negotiate a less expensive settlement, which could have amounted to more than $1 billion without the bankruptcy filing.
The drugstore chain has filed several notices for additional store closures since its Oct. 17 motion to reject store leases and close 154 stores.
In November and December, it filed notices to reject 55 more stores and in late December and early January, it sought another 45 closures.
The Philadelphia-based drugstore chain filed notices on April 2 to close 30 stores, April 3 to close six locations and April 9 to close 17 stores.
In California, 18 of the stores are set to be closed.
The closure list also included 13 in New York, 12 in Pennsylvania, three in New Jersey, two in Michigan, two in Ohio, and one each in Maryland, Massachusetts and Virginia.
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