Walmart Inc. announced the closure of four out of its eight stores in Chicago, effective April 16. Pharmacies at these locations will remain open for up to 30 days.
The stores set to close are located at 8431 S. Stewart Ave., Chatham; 4720 S Cottage Grove Ave., Kenwood; 2844 N Broadway St., Lakeview and 2551 W Cermak Rd, Little Village respectively.
In a statement released by the company, it was revealed 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” as an explanation for this decision taken by Walmart Inc.. The company also stated that they would work with community leaders to find reuse options for vacant buildings and donate Walmart Academy training center from Chatham location back into community service .
