This massive retailer is now closing two locations in California for good, resulting in multiple job cuts from entry to management level.
Walmart is closing two locations in California and fans of the retailer are not happy about it, reports The-Sun.
Two of the company’s stores in San Diego and El Cajon, California, are closing down on February 9.
Many shoppers in the Logan Heights neighborhood of San Diego say they are worried about where they will go for essentials once their local store closes.
“This is where I come and get my medicine. I need to get my medicine somewhere,” Hilda Aguiar told local NBC affiliate KNSD.
Customers are just as upset about the El Cajon location closing down.
“When I heard that, my stomach kind of turned over,” Art Floto told local CBS affiliate KFMB-TV.
“I was actually pretty surprised because this is a fairly busy and large Walmart,” another shopper, Janet Reade, told the outlet.
“I think this location for Walmart is very good for people who just need to walk here.”
Reade added: “So I think it’s going to create kind of a desert for them, a food desert.”
Walmart provided a statement to local shoppers who will be losing the two stores.
“We are grateful to the customers who have given us the privilege of serving them at our San Diego and El Cajon stores,” Walmart spokesperson Brian Little said in a statement.
“We look forward to continuing to serve them at any of our many locations across the area, on walmart.com and through delivery to their home or business.”
Will more store shutter?
“Walmart shut down more than 20 stores in 2023 citing theft and underperformance as the reasons.
The 2 stores closing in Southern California are only the first of what could be many in 2024,” said a local news report on X, formerly known as Twitter.
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Also Read: A Home Furniture Retailer Now Files For Unexpected Bankruptcy
Other Economy News Today
Another fast food franchise now declares an unexpected bankruptcy as a result of failing locations, sources report.
Rival chains including Restaurant Brands International’s (QSR) Burger King and Popeye’s have struggled to keep up, reports TheStreet.
Now, after Burger King saw multiple franchise owners file for Chapter 11 bankruptcy protection, another RBI brand operator has followed that path and filed for Chapter 11 bankruptcy protection.
“Popeye’s likely suffered worse than Burger King during the covid pandemic because some of its locations lacked drive-through lanes.
That meant that customers who wanted to pick up their orders had to enter the restaurant at a time when people were uncomfortable doing that,” the outlet reports.
RRG, Inc., which operates 17 Popeye’s locations based in Georgia, has filed for Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the Southern District of Georgia.
The owners, Mark Rinna and Jane Rinna, said that the filing is because a few locations are dragging the rest down.
“Debtor is filing bankruptcy as a result of failing locations.
Debtor has approximately three Popeye’s restaurants that have significantly lost money and caused a financial burden on the continued operation of the remaining restaurants.
[Furthermore] Debtor has fallen behind on lease payments of remaining profitable restaurants and needs to cure those arrearages to avoid lease termination,” the company shared in its bankruptcy filing.
The owners say they plan to continue operating while in Chapter 11.
This is the second Popeye’s franchisee to file bankruptcy over the past 12 months as Premier Cajun Kings filed for Chapter 11 bankruptcy in March 2023 after its owner died.
The three-page RRG court filing does not contain any details about the size of its debt or the cost of its leases.
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Also Read: A US Company Now Declares An Unexpected Bankruptcy
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