- The Washington Post reports that Wal-Mart has rejected a proposed location for what would have been its first site in the District of Columbia –a shopping center on Rhode Island Place.
The Post reports that the decision “stunned city leaders and developers, who had courted the retailer for years and hoped its arrival…would spark an economic revival in the neighborhood.”
While the company didn’t officially comment on why it rejected the location, the Post reports that they were not happy with the size or the amount of parking at the site. Wal-Mart officials did say they would continue looking for an appropriate location in the District.
- Wal-Mart’s Asda Group reportedly is considering a bid that would be the equivalent of as much as $1.8 billion (US) that would allow it to acquire Matalan, a discount clothing chain with 178 store sin the UK, and using the chain to dramatically expand the venues in which its George private label line would be available.
It was only a week ago that Asda claimed the title as the UK’s largest clothing retailer, wresting the honor away from troubled Marks & Spencer.
However, a bid by Wal-Mart won’t happen in a vacuum, as there also is expectation that other retailers, as well as investment firm Kohlberg Kravis Roberts (KKR) would make a bid for Matalan.
