No Walmart for New York City

Monday, 17 Sep 2012 12:08 PM

Despite Walmart’s efforts to break into the New York City market for more than 7 years, it has faced another big setback to its plan. A new mall being constructed in Brooklyn, known as the project Gateway 2, has a very large space available, which Walmart reportedly has been incredibly interested to lease. Walmart’s spokesman said “…we were unable to agree upon economic terms for a project in East New York”. Nevertheless, he continues to say, “…we remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most.” The New York Times reported that a ShopRite supermarket is most likely to lease that place leaving Walmart uncharacteristically unable to move in.

Many small business owners oppose Walmart's plan to open a super store in New York City fearing it could destroy their business. It is a common sentiment amongst small businesses across the country concerning the retailer. A group called "Walmart Free NYC" demonstrates on a regular basis and its spokeswoman Stephanie Yazgi said about the setback, "Walmart’s withdrawal from Gateway II shows that when New Yorkers join arms, even the world’s richest retailer is no match for them.”

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