Amidst a faltering economy, Walmart announced it would close 269 stores. That’s only a small portion of its 11,000 stores. About 10,000 workers will lose their low-wage jobs.
The Walton family won’t suffer. Every one of them is a billionaire.
But many towns will suffer. When Walmart arrives in a town, the mom-and-pop stores close. They can’t beat Walmart’s prices. The local businesses are shuttered. When Walmart closes, the town is left without an economy, its Main Street desolate.