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Walmart Abruptly Closes 5 Stores, Lays Off 2,200

Walmart (NYSE:WMT) has abruptly closed five stores, leaving 2,200 unemployed.

WalmartThe retailer claims all five locations have plumbing issues that need to be resolved. Walmart is closing these stores for six months or more.

The sudden move has raised questions regarding whether or not Walmart is being truthful. The stores are being shut down in California, Oklahoma, Florida and two in Texas.

“Even if they had to replace the whole sewer line, it wouldn’t take six months to replace a whole sewer line in that store,” said a Walmart plumbing technician.

Walmart says it has yet to request plumbing permits on affected stores because it doesn’t know how much work needs to be done yet.

WMT stock is down 1.72% Friday.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/04/walmart-wmt-stock/.

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