October 10th 2024.
A recent map has revealed the unfortunate news that 11 Walmart stores in the United States have closed their doors this year. This beloved discount store, known for its affordable prices on everything from electronics to household essentials, is facing some challenges that have led to these closures.
The latest announcement reveals that three more locations will be shutting down by the end of this month, bringing the total number of closures to 11 for the year. The decision to close these stores was not made lightly, as Walmart carefully considered their financial performance and cases of theft.
The stores set to close by late October are located in two states, Georgia and Colorado. Specifically, one store in Marietta and another in Dunwoody, Georgia, will be closing, along with one in Aurora, Colorado. Earlier this year, Walmart also closed five stores in California, and now Georgia is the second-hardest hit state with two store closures.
Unfortunately, the remaining three store closures this year have already happened in Towson, Maryland; Columbus, Ohio; and Milwaukee, Wisconsin. According to reports, Walmart made the decision to shut these stores down due to their poor financial performance and recurring theft incidents.
Back in May, employees at the stores that were closing at the time received layoff notices and were given the option to transfer to other Walmart locations. This year has been tough for the company, as they not only closed 11 stores but also shut down 51 of their Walmart Health centers, which were launched in 2019.
In a statement released in April, Walmart shared, "During our five-year journey, we made meaningful impacts with patients while continuing to learn, pivot and evolve. Through our experience managing Walmart Health centers and Walmart Health Virtual Care, we determined there is not a sustainable business model for us to continue."
The company acknowledged that this decision was not an easy one and that they understand the impact it has on people's lives. "This is a difficult decision, and like others, the challenging reimbursement environment and escalating operating costs create a lack of profitability that make the care business unsustainable for us at this time," they explained.
Despite these challenges, Walmart continues to serve about 225 million customers weekly at their more than 10,500 stores and eCommerce websites in 19 countries, as stated on their website. However, they are not the only chain in the United States facing financial struggles.
Just last month, EYM Pizza L.P., the largest franchisee of Pizza Hut, announced that they will be selling all 127 of their remaining stores across five states due to bankruptcy. It's clear that these difficult economic times have taken a toll on many businesses, and Walmart is no exception.
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