Walmart Plan To Shut Four Underperforming Stores
Amid millions in annual losses, Walmart announces closure of 4 Chicago non-performing stores by Sunday.
According to the company, eight Chicago locations have collectively not been financially profitable since they first opened 17 years ago.
The stores which are to be shut down are located in the Kenwood, Lakeview, Little Village and Chatham neighborhoods of Chicago.
The four stores will close on April 16, though their pharmacies will remain open for up to 30 days.
All employees from these four stores can transfer to other Walmart locations. Walmart will continue to keep its other four Chicago stores open.
Walmart also announced that it would layoff hundreds employees at its e-commerce fulfillment centres across the country.
The company had more than 5,300 retail locations as of January 31, including Supercenters, discount shops, Sam's Clubs and small-format stores.