Walgreens, a major nationwide drugstore chain and the second largest pharmacy in the United States, announced on Wednesday, October 25th that they would be conducting massive closures. At least 600 locations will be shut down.
These closures come in response to the Rite Aid deal Walgreens finalized earlier this year. The Chicago Sun Times previously reported that Walgreens is purchasing almost 2,000 Rite Aid stores, three of their distribution centers, and inventory for over $4 billion.
Rite Aid is the third largest drugstore chain in the United States, after Walgreens. It is also a fortune 500 company.
All Rite Aid locations are expected to be acquired by Spring of 2018. Over the next few years, the Rite Aid stores will be re-branded as Walgreens.
According to USA Today, most of the closings will be Rite Aid stores that are within a mile of a Walgreens. The company currently has more than 13,000 locations worldwide, a majority of which are in the U.S.
Unfortunately, Walgreens has not released which locations will close down. If the company does decide to do so, this article will be updated accordingly.
Closures will begin next year and completed in an 18-month timeline.
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