🔴 Walgreens to Close Another 1200 Stores

🔴 Company Posts Losses of 4 Billion Dollars Last Quarter

🔴  Patients Should Plan in Advance

 

Big pharmacy chains exploded on the scene like a blazing comet, opening thousands of giant stores.

Seeing two or even three chain pharmacies on the same street corner wasn't uncommon.

Now, just like a comet, the three biggest pharmacy chains are all fading away into the night.

Rite-Aid, CVS and Walgreens are all hurting.  All have been shutting down stores in large numbers.

In June, Walgreens announced plans to close stores.

Since then, Walgreens has continued to pile up losses, and now the chain has announced plans to close 1200 stores over the next three years.

They are expected to close 500 stores next year.

As more and more of these chain pharmacies are closing, it is a good idea to plan now.

Bloomberg via Getty Images
Bloomberg via Getty Images
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Those with chronic health issues should consider moving their prescriptions now, rather than panic with last-minute changes.

New Jersey law states that patients may transfer most prescriptions from one pharmacy to another.

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Canva
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There are exceptions to this law, such as schedule 2 medications.

If you have any questions, ask your caregiver to write new prescriptions or call them into a new pharmacy of your choice. Walgreens currently has about 8700 locations.

These planned closures will account for about 25% of their locations.

The company also announced plans to cut back on the primary care clinics, VillageMD.

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Getty Images
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Earlier, Rite Aid closed about 520 stores, and CVS has already announced plans to close about 900 of its locations.

Pharmacies aren't the only stores closing.

The last few years have been brutal for retail and restaurant chains in addition to the pharmacy sector.

Big Lots and Family Dollar recently announced significant closings as well as Red Lobster.

Source:  Business Insider  

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