Kroger is closing its doors to sell off some of its stock as Walmart completes its deal to acquire the grocer.
Kroger announced Wednesday it would close the doors to its stores as part of the deal, a move that’s expected to save the company roughly $700 million, according to the Wall Street Journal.
Kraft Foods Inc. and Walmart are also closing some of their stores.
The two companies announced the agreement Wednesday afternoon.
Walmart said it plans to keep most of its 1,500 stores open through at least the end of the year.
The grocer said it has a total of 4,000 stores.
KFC Corp. is closing about 2,000 of its stores and McDonald’s Corp. will close about 2.4,000.
The retailer will close 3,000 more stores.