In some parts of the country, businesses may feel like they have a chance to thrive regardless of their political leanings. But these cities are tricky, and Philadelphia is no exception: everyday a company manages to stay afloat there is an apparent miracle–despite it being only a matter of time before they are driven out by the politics. Unfortunately, a major chain has announced some bad news.
Zero hedge reports, in a move similar to many other corporations that close retail locations in a variety of cities, Target has decided to pull the plug on Philly. It follows in the footsteps of Wawa, which last year left several locations in Center City due to Philadelphia’s crime problems.
According to the Philadelphia Business Journal, Target, located just blocks from a recently closed Wawa, is taking the same action. After seven years of operation, its store at 12th and Chestnut streets in Center City will close.
Target spokesperson Kayla Castaeda said: “The decision to close one of our stores isn’t something we take lightly. It’s an action we take only after multiple years of working to improve performance.”
Target will also close three stores, including one in Minneapolis and two in Washington, D.C. Along with closing three stores, Target is planning to open a 22,000-square-foot renovation project. It will help replace its presence lost in Center City by opening a store near 37th and Chestnut, almost in the middle of U Penn’s campus.
Here’s the media’s little report on the development.
Yes, let’s blame the store on its location and its poor performance. Tell us why the store had poor performance. We know Philadelphia isn’t the safest place but hey, if that’s the story they’re planning on telling about their store then we must buy it. Not.
Let’s continue this conversation, in the comments below.
