Walmart has been closing down stores in several cities and residents of North Carolina are saying they are feeling cheated.
A few weeks ago, Walmart announced that it was closing 269 stores around the world and that includes 154 stores in the United States alone. It was reported that the decision to close down several stores were made after seeing that the financial performance of the company did not align with their long-term goals.
The closure has affected multiple areas in the industry. For one, Walmart shares have been down by 30%. For another, it has affected small towns.
In Oriental, North Carolina, the local Walmart store announced that it was closing. Renee Ireland-Smith, a local resident, says that the town was doing fine before Walmart came. Her family ran a grocery store but was forced to close when they could not compete with Walmart. Now that Walmart is closing, she describes the town as "broken".
Luella McQuesten, a local from Arkansas shares her upsetting news that people now have to travel a long way for grocery shopping because three Walmart stores are closing.
The closures also meant financial problems for Fairfield, Alabama. Walmart provided 35% of the tax base which would mean it will affect the town's revenue. More than one hundred stores being closed can be found in the small towns of United States. Many of which will lose access to the nearest pharmacy and grocery.
Brian Nick, Senior Director of Corporate Communications at Walmart, announced that the company is in talks with local community leaders. Walmart is helping them find potential buyers and facilitates future taxes for the upcoming year.
Local towns are brimming with disappointment but it is a reality they must face in order to move forward. Nick still stands by the company's promise that...
We're always looking for (an) additional way to serve customers.
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