A large retailer that had previously declared plans to close up to 25% of its stores is now implementing painful store closures in Delaware.
With 19 locations already designated for closure, including a total of five stores in Delaware, Walgreens announced plans to eliminate up to 25% of its stores countrywide.
The corporation is making this decision while navigating a difficult operating climate.
“We still have a challenging operating environment, with ongoing pressures on American consumers and the effects of recent changes in the marketplace that have reduced pharmacy profit margins,” stated Tim Wentworth, CEO of Walgreens.
Walgreens’ difficulties are not unique to it.
Rite Aid filed for Chapter 11 bankruptcy protection in October 2023, claiming losses of almost $3 billion since 2020 and unpaid debt of $3.3 billion.
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The firm has closed hundreds of locations around the country as part of its restructuring plan.
In the meantime, CVS plans to close 300 stores this year.
Which Delaware Walgreens shops are closing?
The Walgreens stores in Delaware that are closing this year are listed below:
- 124 E Main St, Newark
- 4201 Concord Pike, Wilmington
- 32979 Coastal Hwy, Bethany Beach
- 900 Maryland Ave, Wilmington
- 301 Lancaster Pike, Wilmington
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