Wal-Mart Fails to Agree on Terms for Brooklyn, New York Store
Wal-Mart (NYSE: WMT) announced today it was unable to agree on terms for a store location in Brooklyn, New York. The company provided the following statement:
“Walmart today announced that we were unable to agree upon economic terms for a project in East New York. We remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most. Two things remain constant: most New Yorkers want us here and we remain interested in providing more convenient access to Walmart for local residents. We appreciate all our supporters – the Mayor's office, Borough President Markowitz, Reverend Youngblood and countless others in and outside East New York – who helped us strengthen local relationships and build bridges with the community. In addition to providing good jobs and affordable groceries, residents want a retailer in Brooklyn that would hire and buy local, and look to make a positive economic impact by hosting job fairs, workforce development initiatives and supplier summits. Walmart will continue to evaluate local opportunities across all five boroughs.”
This would have been Wal-Mart's first store in New York City.
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