Walgreens, the nation’s second-largest pharmacy chain, is providing more details on the locations of the 500 stores across multiple states that it is shedding this year, including 10 locations in Colorado.
Company executives have claimed that a quarter of the company’s 8,700 U.S. stores are unprofitable, and to reverse losses, they will close 1,200 locations, including 500 in the company’s current fiscal year, which began Sept. 1.
Eight stores are on the closure list in metro Denver, and many are already shuttered with their locations being listed for sale.
Walgreens stores closing in Denver metro
- 12051 E. Mississippi Ave., Aurora
- 10501 E. Colfax Ave., Aurora
- 15301 E. Iliff Ave., Aurora
- 6395 Sheridan Blvd., Arvada
- 3555 Colorado Blvd., Denver
- 6360 E. Evans Ave., Denver
- 300 S. Federal Blvd., Denver
- 1601 W. 84th Ave., Federal Heights
Colorado Springs has lost two stores in recent months: 3143 W. Colorado Ave. and 4305. E. Platte Ave.
Phone lines for the closed stores are being rerouted to nearby locations. If the automated prompt provides an address or cross street, it is likely still open.
After a period of rapid expansion in the prior two decades, the country’s three largest pharmacy chains are rapidly shrinking their footprints, with CVS saying it has a three-year plan to close 900 locations and Rite Aid shedding more than 800 locations as it emerges from bankruptcy.
Oversaturation, competition from online providers and reduced reimbursement rates from pharmacy benefit managers, which negotiate rates on behalf of large volume buyers, have made it much more difficult for the drugstore chains to maintain a profit.
Retail and restaurant chains of all stripes are under intense pressure. Clothing and cosmetic retailer Kohl’s this weekend will complete a previously announced closure of 27 stores, including its Arapahoe Crossing location at 6584 S. Parker Road in Aurora. Joann Fabrics is closing down all 800 of its locations, including five in Colorado, after a second trip into bankruptcy and Forever 21 plans to shutter all 350 of its stores, including five in Colorado, by May 1.
Del Taco abruptly closed 18 out of 19 Colorado locations late last month and On the Border Mexican Grille & Cantina recently closed its Loveland location, one of 70 it is dropping as it restructures.
Updated: 5:15 p.m. Wednesday, four stores were removed from the list of stores that are closed.
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