National Retail Chain with 450+ Locations in New York to Close 1,200 Stores

Say goodbye to over 1,000 stores from a National retail chain that has more than 450 locations in New York State.

As predicted, the private equity firm, Elliott Investment Management, is buying Walgreens for nearly $24 billion.

For a long time, Walgreens has been one of the biggest players in the pharmacy world, but like many retailers, it’s had a tough time keeping up with the changes in consumer habits and competition.

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Declining Prescription Sales

In recent years, the company has faced challenges such as a decline in prescription sales and the increasing popularity of online shopping.

Walgreens has been trying to stay competitive by trimming down on less profitable locations and rethinking its overall strategy. But with things not turning around as quickly as hoped, this sale is a way for them to reset.

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Walgreens will now be private after going public in 1927. The deal is expected to be complete sometime in the fourth quarter of 2025.

The plan involves closing 1,200 stores over the next two years, meaning one in every seven currently open will shut down by 2027.

There are 457 Walgreen stores in the Empire State, the fifth-most in the country.

There's no word on which Walgreens will face the chopping block. Only time will tell.

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