New York CNN —
Kroger is set to close about 5% of its grocery stores — amounting to approximately 60 locations — over the next year and a half.
The closures come a few months after plans collapsed for a merger with rival Albertsons that would have created a massive chain. That resulted in the two companies becoming embroiled in a legal fight.
Kroger revealed in an earnings release Friday that it was taking a $100 million impairment charge on the closures, but that they would provide a “modest financial benefit” in the long
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