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Why did Walmart close its two remaining stores in Portland?

Protest in front of Mark O. Hatfield United States Courthouse in Portland, Oregon, July 22, 2020
Credit: Tedder/Wikipedia/Creative Commons 4.0

Walmart has just announced it is permanently closing its two remaining stores in Portland, Oregon citing financial concerns, Fox News reports.

This will result in over 580 lost jobs in the city.

So what are these financial concerns?

Well, we know at least part of this involved shoplifting, which is running rampant in cities, where woke prosecutors are failing to properly prosecute criminals, often letting them out the same day they are arrested.

Fox News explains:

“Theft is an issue. It’s higher than what it has historically been,” Walmart CEO Doug McMillon said in December on CNBC. He added that “prices will be higher and/or stores will close” if authorities don’t crack down on prosecuting shoplifting crimes. 

In November, another Portland business, Rains PDX, also shuttered its doors and posted a note on its door specifically citing crime as the primary reason for its closure:

“Our city is in peril. Small businesses (and large) cannot sustain doing business, in our city’s current state. We have no protection, or recourse, against the criminal behavior that goes unpunished. Do not be fooled into thinking that insurance companies cover losses. We have sustained 15 break-ins … we have not received any financial reimbursement since the 3rd.”

So it seems that honest people are losing their jobs as the city caters to the criminal element.

READ: Walmart to shutter Portland locations just months after CEO’s warnings on crime

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