Largest Pharmacy Stores Chain Announced To Close Its Stores Permanently
At least two Walgreens locations in Lexington will be closing permanently, as well as another in Nicholasville.
The pharmacy chain announced earlier this month that it plans to close 1,200 stores across the United States, starting with 500 stores in fiscal year 2025. “This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term,” said CEO Tim Wentworth in a statement.
The closures mark the latest round of struggles for pharmacy chains nationwide. Walgreens rivals CVS Health and Rite Aid have seen similar trends, as CVS has closed 900 stories over the past three years, and Rite Aid is emerging from bankruptcy.
While the stores got an early pandemic boost from COVID vaccinations, they are suffering now as customers look for lower-cost alternatives, including online retailers.
Walgreens’ closures will occur over the next three years, according to an earnings report released on Oct. 15.
But the company did not say at the time which stores would be impacted.
Lexington, which has at least 10 Walgreens locations including one Community store, will lose at least two before the end of 2024.
And another store in Nicholasville will close, too.
