DEERFIELD, Ill. (Michigan News Source) – Walgreens, which boasts more than 120 stores in Michigan, is tinkering with a business plan that could trigger the closure of hundreds of additional stores in the next three years.
CEO Tim Wentworth said “changes are imminent” for about 25% of the company’s stores. He said those stores are underperforming. The drugstore chain currently runs more than 8,600 in the United States.
MORE NEWS: Snowplow Safety 101: Michigan Drivers Urged to Prepare for New Law as Winter Finally Approaches
Walgreens is following the same path as its major competitors CVS and Rite Aid when it comes to the closure of stores. A bankruptcy reorganization is currently putting the pinch on Rite Aid, which earlier this month announced the closure of many stores in Michigan.
Competition from discount retailers like Walmart and Amazon is contributing to the store closures.
Leave a Comment
COMMENTS POLICY: We have no tolerance for messages of violence, racism, vulgarity, obscenity or other such discourteous behavior. Thank you for contributing to a respectful and useful online dialogue.