This Popular Retail Chain Is Closing Stores, Starting Nov. 16
You may rely on these soon-to-be-shuttered stores for a wide variety of daily necessities.
A sign reading "store closing" or "everything must go" is nothing new these days. Small businesses face significant risk, but large retail chains deal with their fair share of financial woes, causing them to shutter brick-and-mortar locations as well. Stores that you've shopped at forever—Bed Bath & Beyond, Office Depot, Sears—have all recently closed stores, and it seems like new retailers are on the chopping block every week. Now, another company is shuttering stores, citing different reasons for each location. Read on to find out which popular chain is closing stores, starting Nov. 16.
READ THIS NEXT: This Popular Retail Chain Is Closing Stores, Starting Oct. 29.
The drugstore sector is experiencing mass closures.
There appears to be a trend when it comes to pharmacies and drugstores, and that trend is store closures. In Nov. 2021, CVS announced that it would be closing 900 locations over three years, a move that was initiated as part of a new retail strategy. Similarly, Rite Aid announced in April that it's closing 145 "unprofitable" stores in 2022 to aid in the reduction of company costs. But as of Sept. 30, things still weren't looking good: Rite Aid reportedly had between a 9.99 and 50 percent chance of bankruptcy, per CreditRiskMonitor's FRISK scores, Retail Dive reported.
Back in 2019, another big-name drugstore closed 200 locations, and has since stuck to localized closures. However, it appears more stores are now going to be gone for good.
You won't be able to fill your prescriptions at this location.
Walgreens is the latest drugstore to face closures, with the next one slated for Nov. 16. A location in Craig, Colorado will be shut down for good, the Craig Daily Press reported, citing confirmation from Walgreens corporate representatives.
"We have made the difficult decision to close this location," Fraser Engerman, Walgreens senior director of external relations, said in a statement, per the Craig Daily Press. "There are a number of factors that we take into consideration including dynamics of the local market and changing buying habits of our customers."
Once the Craig store is closed, existing inventory will be moved to other Walgreens, Engerman confirmed to the local newspaper, adding that the retailer is "focused on creating the right network of stores in the right locations to best meet the needs of the communities we serve."
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Another closure is pending.
According to Block Club Chicago, a Walgreens in the Wicker Park neighborhood of Chicago, Illinois, is closing up shop. Neighbors were reportedly informed by a Walgreens official about the impending closure, which is one of its flagship locations.
These flagship stores are "deluxe versions" of the typical drugstores, primarily in locations in "high-profile, high-traffic areas," REjournals reported. The Wicker Park Walgreens is no exception: Opened in 2012, it's located in the former Noel State Bank, where it uses the old vault to store vitamins.
At an Oct. 5 meeting of the Wicker Park Committee, Amy Wagner, Walgreens environmental designer, confirmed that the massive flagship location would be closing when asked by a neighbor, according to Block Club Chicago. But Kris Lathan, a spokesperson for Walgreens, told the outlet that there haven't been formal decisions, and there is an existing long-term lease agreement in place.
Another Walgreens pharmacy has already closed.
These aren't the only Walgreens closures, as the pharmacy at a Walgreens in Easthampton, Massachusetts closed on Oct. 6, the Daily Hampshire Gazette reported. A sign on the door cited a "staffing shortage," that would leave this portion of the store closed until further notice.
Nicole LaChapelle, mayor of Easthampton, told the Daily Hampshire Gazette that it has been difficult to cover the pharmacist position, and while hours were cut on Sundays, it wasn't enough to keep the pharmacy up and running. Locals can still shop at the Walgreens store, but as prescriptions are a crucial part of business, things are looking grim for Easthampton residents.
According to the Daily Hampshire Gazette, a nearby CVS location closed in September due to damage from a rainstorm, and with the most recent Walgreens closure, there are no more pharmacies currently operating within Easthampton.
Best Life has reached out to Walgreens for comment on all three closures, and will update the story when we hear back.
