In a move about as rare as a dodo bird sighting, Walmart is closing a store.
The Walmart in East Norriton is set to close before the end of the month, leaving 10 Walmarts operating in Montgomery County.
While Walmart closings are far and few between, they have been quietly closing stores throughout the year, including 17 stores back in June, according to a businessinsider.com story. However, they are also opening new stores, just not at as fast a pace.
As many as 150 people could lose their jobs with the East Norriton closing, but the company is hoping to transfer the majority of employees to different locations in the area, writes Kennedy Rose for the Philadelphia Business Journal.
The reason for the East Norriton closing is that Walmart was unable to come to an agreement that would have extended its lease and stay profitable at W. Germantown Pike location, Phillip Keene, a spokesman for the retail giant, told the Philadelphia Business Journal in an email.
Walmart began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Bentonville, Arkansas, and opened Walton’s 5 & 10. … The company introduced its warehouse club chain Sam’s Club in 1983 and its first Supercenter stores in 1988, according to the retail giant’s wikipedia page.