Walmart will shutter four Chicago locations by the end of the week, citing the stores’ unprofitability as the reason for the closures.
“The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago — these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” the company wrote in a news release posted on its website.
“We think this decision gives us the best chance to help keep them open and serving the community,” the company said.Walmart said it planned to donate the Walmart Academy in Chatham “to the community to help further strengthen Chatham and the surrounding neighborhoods.”
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