Kroger Hit By A Flood Of Store Closures As A Nightmarish Scenario For Retail Bankruptcies Begins

(Source:  Epic Economist – YouTube)

Now one of the most famous grocery chains in the U.S. is getting hit by a massive wave of store closings as a nightmarish scenario for retail bankruptcies starts to unfold. Earlier this month, a spokesperson confirmed that Kroger is shuttering multiple stores, and by early 2024 over 400 locations could go dark permanently. Thousands of jobs will be slashed and many communities may lose their main grocer. And the worst part is that Kroger will not be the only one. The news came as a surprise to many, given that Kroger has been a staple in the grocery industry for decades. “As part of a recent real estate portfolio review, we expect to close 11 stores in April,” Teresa Dickerson, a Kroger spokesperson, said in a March 2 press release. “The closing stores, on average, are approximately 30% larger than our current prototype and are underperforming financially.”