WACO, Texas (KXXV) — Kroger plans to close approximately 60 grocery stores, representing about 5% of its locations, over the next 18 months.
According to CNN, the announcement follows the collapse of a merger deal with rival Albertsons that would have formed a major grocery chain.
In an earnings report released Friday, Kroger disclosed it would incur a $100 million impairment charge related to the closures, while anticipating a “modest financial benefit” in the long run.
Specific store locations affected by the closures have not been disclosed, and Kroger has not yet responded to requests for comment.
Kroger also stated that all employees at the affected stores will be offered positions at other locations.
