The brick and mortar retail space has been a difficult area to function in recent years.
For years, we have been decrying the decline of the traditional indoor shopping mall. Once a mainstay in the American economy, the closure of many indoor malls have halted business for a lot of legacy retailers rely on malls for foot traffic and accessibility.
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Stores that were once central to the mall-going experience, like like JC Penney, Macy's, Express, and Rue21 have either filed for bankruptcy, shuttered stores, or both as mall foot traffic dries up.
But it's not just malls that have had a tough time.
Thanks to Covid, consumers changed their shopping behavior for good; we just didn't know it at the time.
Now, approximately one-third of Americans get their groceries delivered online, and millions of us get other staples (and splurges) from online retailers that offer fast and free delivery. With over 200 million Amazon Prime members alone, it's no surprise that the companies that scaled up their online operations are now the fittest of the bunch, whereas underperforming strip malls and areas that rely on foot traffic may be struggling more.
Walmart closing under-performers
And certain areas have been hit harder than others in the United States.
While Walmart's (WMT) online operations continue to boom, some areas of the country have had a harder time recovering in a post-Covid world.
In 2023, for example, Walmart closed 24 stores in total, up from the originally slated 15. These closures affected 14 states and Washington, D.C., with four stores closing in Chicago and eight closing across the state of Illinois, the most of any state.
It has closed more stores in 2024, including two underperforming locations in California.
Related: Grocery chain moves from closing stores to liquidation
Walmart also announced in April that it would close all 51 of its health centers and sunset its entire health division.
"We determined there is not a sustainable business model for us to continue," Walmart said in part.
Walmart store closing, auctioning off inventory
And in February, Walmart announced it would close a Columbus, Ohio, store after "failing to meet financial expectations."
The store, which is situated at at 3579 S. High St., ultimately decided not to renew its lease in the once-busy strip plaza earlier this winter, which is also home to a Kroger, H&R Block, Ollie's Bargain Outlet, furniture store, and several fast food restaurants.
More Walmart:
All associates were given the option to transfer to other Walmart locations and received severance payments through May 3.
And this week, the Walmart store plans to offload its merchandise via a liquidation auction.
Some of the items up for auction will include:
- Cash registers
- Checkout counters
- Display racks
- Electronics and technology
- Flat-screen TVs
- Laptops
- Tablets
- Furniture
- Small appliances
- Coolers
- Cleaning supplies
- Shelving units
- Security monitors
- Anti-theft systems
- Stock carts
- Hand trucks
- Ladders
The auction is being run online by Grafe Auction and will run through Friday.
“This is your chance to acquire high-quality equipment, fixtures and more at a fraction of the retail cost,” the auction website reads. “Whether you’re outfitting a new store, expanding your current business, or simply looking for amazing bargains, this auction is not to be missed.”
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