The announcement that came from Deerfield, Illinois was certainly not what many Walgreens employees wanted to hear. The company says they will now close 1,200 stores forever with 500 as soon as this year.
I saw this report today from WKYC which shared some of the details of what Walgreens plans to do. Here’s a summary of what their plans are:
- They will close 1,200 stores over the next 3 years
- This plan to close Walgreens locations includes a previously announced 300 stores
- 500 Walgreens will close this fiscal year
- No locations have been announced as of the date of this writing
The announcement from Walgreens comes from their Deerfield, Illinois headquarters, but it’s not been determined how many Illinois stores will be closed or at least has not been made public.
The report says Walgreens CEO Tim Wentworth characterized this coming year for the chain as a “rebasing year” as they hope this reduction of locations will help the company get their business headed in the right direction…