Walgreens is seeking to close about 2,150 stores nationwide in the next three years that are “underperforming” for a number of reasons.
The company’s CEO, Tim Wentworth, recently told The Wall Street Journal that the pharmacies that would close were either not profitable, in high-theft areas or are too close to one another.
The pharmacy chain is also struggling due to the ongoing shift from picking up prescriptions in-person to filling prescriptions online.
While the company did not specify which stores would close yet, the chain stated that closures across America would be “significant.”
Although underperforming stores are expected to close, some locations will just be shifted to more profitable areas and workers at closing stores will be offered positions at other locations.
Rival pharmacy chain Rite Aid has also closed a significant number of stores in the U.S. due to corporate restructuring after filing for Chapter 11 bankruptcy.
Walgreens has a total of 8,600 stores in the U.S.
More Major Retailer Closings
- Is another major restaurant chain abruptly closing locations?
- Red Lobster abruptly shutters more than 80 U.S. restaurants, including 4 in N.J.: See the full list
- Applebee’s closing 35 locations across the U.S. in 2024
- Walmart closings 2024: See the full list
- Rite Aid shutters more than 520 stores since filing for bankruptcy
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.