Walgreens Shutters Stores Nationwide: What's Behind the Closures?

Walgreens has shuttered stores across at least a dozen states, including New York and New Jersey, as part of a multiyear plan to cut costs and close underperforming locations.

The Chicago-based pharmacy chain first announced plans in October 2024 to close roughly 1,200 underperforming stores over the next three years – including 500 locations in 2025 alone – in an effort to slash $1 billion in costs.

But last year, after the company went private following an acquisition by private-equity firm Sycamore Partners, it pared back those plans and now expects to close fewer than 100 stores this year, according to Inc.com.