Walmart has announced yet another fresh round of store closures across the US , which they are putting down to the increasing costs of leasing the properties.
Walmart closed 20 stores last year for a number of reasons , and they have since added two more to the list since the turn of the new year.
These closures affected 14 states , with eight closures in Illinois, four closures in Chicago and Washington DC also suffering a loss. “These stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” Walmart said at the time.
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However, while stores were closed due to poor sales last year, the two next closures are taking place for different reasons.
Two stores in California are closing as they were “unable to reach an agreement with the property owners to renew the leases at these two locations”.