Supermarket With 200 Stores Is Now Closing For Good

A supermarket with 200 stores is now closing for good next month after rumors circulated from staffers, sources report.

The Weis Markets store in Binghamton, New York state, will be permanently closing its doors in about one month, reports The-Sun.

News of the closure comes after staffers had reportedly heard speculation that the store could be at risk of shutting down, per the radio station WNBF.

Shoppers are worried how the pending store closure will impact the local area, while others fear for the future of retail.

“Pretty soon the only way to get groceries will be to order them online.

There won’t be a store to go to, just like with everything else,” a shopper said.

“This is too bad. It’s convenient to shop there for us for last-minute stuff,” another commented.

Shoppers fear the closure may cause a grocery store desert.

“That store is never empty and there’s no other grocery store near it… How in the heck can they justify shutting it down?” a shopper lamented.

“This is going to be a hardship on a lot of people in that neighborhood.”

Shoppers have described the closure an awful idea.

Workers impacted by the closure will be able to transfer to other Weis stores.

Weis Markets has a portfolio of 200 stores across seven states, including New York, New Jersey, and Pennsylvania.

The grocer is not the only chain that has announced recent store closures.

A Walgreens store in Midtown, Manhattan will also be closing down for good in just weeks.

The store’s last day of business will be February 20.

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Market News Today - Supermarket With 200 Stores Is Now Closing For Good.
Market News Today – Supermarket With 200 Stores Is Now Closing For Good.

An essential retailer is now laying off 145 employees, mostly in its corporate workforce, a spokesperson confirmed.

In November, Walgreens laid off 5% of its corporate workforce, capping off a year of hundreds of announced store closures, a previous round of layoffs and turnover in the C-suite.

The latter included the departure of its CEO, CFO, CIO, chief medical officer and chief marketing officer, RetailDive reports.

In June, the retailer said it would close 150 stores in the U.S. and 300 in the U.K., part of a cost-cutting effort that targets at least $800 million in savings in 2024, for an accumulation of $4.1 billion in savings.

The company has a ways to go in that plan, however.

“While Walgreens continues to progress on reducing costs and delivering on our commitments to be the independent healthcare provider of choice, we still have significant cost savings and growth goals to deliver,” the spokesperson said.

“To help us achieve these goals we have made the difficult but necessary decision to lay off 145 team members primarily from our corporate workforce.”

Last month the retailer slashed its dividend as it reported a fiscal Q1 dragged down by its U.S. stores, where sales fell 6.1%, and comparable retail sales fell 5%.

At the company’s U.K. Boots locations, by contrast, retail comps rose 9.8% year over year, store footfall rose 7% and its retail market share grew for the 11th straight quarter, led by beauty.

Walgreens has also announced that the Duane Reade location in Midtown Manhattan, New York, will shutter in weeks.

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Also Read: Three Massive Restaurant Chains Now Begin Closing Locations

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Market News Today - Supermarket With 200 Stores Is Now Closing For Good.
Market News Today – Supermarket With 200 Stores Is Now Closing For Good.

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