The U.S. retailer Walmart will close 7.4 million U.K. stores in the aftermath of Amazon’s takeover of the online retailer’s parent company.
The company said Monday that about 7,000 stores will be closed, with more than 1,000 remaining.
In a statement, Walmart said it was “committed to ensuring that all of our stores remain open and operate at full capacity” and that “all employees will have the opportunity to continue their work as normal.”
It added that Walmart “will continue to be committed to providing equal opportunity and opportunity for all.”
The chain has seen significant demand for online-only shopping in recent months, with online shoppers buying about $1.7 trillion worth of merchandise in the U.N. trade body’s online sales last year.
Amazon is expected to receive $55 billion in cash and stock for its stake in the company.