I heard that Walgreens said they would be closing another ~150 locations that they bought from us instead of converting them to Walgreens. Is this true? Is your store closing? If yes, did they offer you a job? When is this going down? Post any details including your location in the comments!
5 replies (most recent on top)
sure you buy stores to close them down. its business. it removes the competing store, pushes and consolidates more business to one store, its a huge tax write off and its much easier to "hide" money and assets from investors when suddenly the amount of accounting work increases by 2x or 3x its normal, with a flood of new vendors, expenses, tax credits, payouts...etc...that is now constantly changing.
The mob and organized crime has used a similar scheme for 50+ years
They know the sales going in. They might be closing due to expiring leases or being too close to another store. Either way the RX files get transferred and that's where the value is anyway.
Last quarter Rite aid closed 56 of it's own stores. And the walgreens story IS true! I read that walgreens plans to close some of the former rite stores they just bought. Don't know how many though.
Hopefully,the only new forthcoming closures are the Walgreens operated ones and not ones kept by rite aid(this includes the 550-plus California locations).Still holding out hope my location gets a Wellness conversion,key machine,and Amazon locker.Stay classy,fake news.
You don’t buy stores just to shut them down. I read an article that said perhaps Walgreens didn’t realize what they were buying. That is they bought some weak rite aid stores without knowing it.