Not closing the Walmart stores in Chicago is emblematic of socialism...steal from business and redistribute to criminals. Community behavior sets the rules!

Walmart's sudden move to close 4 Chicago stores sparks outrage, with critics saying it will drive up grocery costs for the neediest families

Story by btobin@insider.com (Ben Tobin,Dominick Reuter) • 

• Walmart announced this week that it is closing four stores in Chicago in a matter of days.
• Elected officials said that the decision to close the stores "worsens food deserts" in the area.
• Walmart has closed dozens of stores nationwide this year, citing "underperformance" as an issue.

• Walmart announced this week that it is closing four stores in Chicago in a matter of days.
• Elected officials said that the decision to close the stores "worsens food deserts" in the area.
• Walmart has closed dozens of stores nationwide this year, citing "underperformance" as an issue.

Walmart's decision to shutter four Chicago stores has drawn ire of elected officials representing the Windy City.   

In a rare press release on April 11 announcing store closures, Walmart said bluntly that these stores "have not been profitable since we opened the first one nearly 17 years ago."

"These stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years," the company said. "The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community."

Chicago Mayor Lori Lightfoot said in a statement she was "incredibly disappointed" by the decision.

"Unceremoniously abandoning these neighborhoods will create barriers to basic needs for thousands of residents," Lightfoot said. "While near-term arrangements will be made for workers, I fear that many will find that their long-term opportunities have been significantly diminished."

In its announcement, Walmart said all affected store employees would be assisted in transferring to any other Walmart or Sam's Club location, and that those who do not transfer will be paid until August 11. Additional severance benefits will be available to eligible employees after that time.

Illinois' layoff law — broader in scope than the federal WARN Act — requires many large employers to provide 60 calendar days' notice before a location closure that is expected to result in 75 or more job losses. Walmart typically does file advance notice where required.