Major Drugstore With Hundreds of Colorado Locations Closing 1,200 Stores
There’s been many different closures throughout Colorado that have been affecting shoppers across the state.
One that was unique in recent times was the closure of the Downtown Denver Natural Grocers location.
It shut down not because the company as a whole was doing poorly, but because that particular location had so much theft it was no longer sustainable from a business standpoint.
On the other hand, large companies with many different Colorado locations are also shutting down tons of stores as well.
For example, Shell is set to close 1,000s of gas stations around the country, which will certainly affect Colorado.
As it would turn out, yet another massive corporation is closing down tons of stores, and it’s a big one.
Walgreens Plans to Close 1,200 Stores Nationwide
Walgreen is an absolute giant when it comes to the biggest players in the drugstore world, and they have hundreds of Colorado stores.
For example, in the Denver Metro area alone, they have over 50.
In the United States, it actually ranks as the second biggest drugstore company, with a ludicrous $91.1 billion of the market share.
The only company that outranks it is CVS Health Group, which has a market share of $159.4 billion.
However, it has been no secret that Walgreens has been struggling as of late.
This summer, it was announced that the company would be closing down three different locations in Colorado.
However, there have been even more closures in recent days, with two more shutting down in Denver.
Since this development, it has been announced that Walgreens is going to close 1,200 stores across the country.
How Many Walgreens Stores Will Close in Colorado?
At this moment, it’s not entirely clear which of the 1,200 planned closures will be located in Colorado, but since it’s such a sweeping change, it’s more than likely it will happen.
Plus, if the past few months of closures have been any indicator, it could likely be sooner rather than later.
Many locations have not really been deemed profitable, and the company is looking to make up on lost profits from those stores.
According to the Associated Press, the trend of large drugstore brands like Walgreens, CVS, and Rite Aid closing down thousands of stores is getting people worried about the access to medicine in the country.
All the Businesses Colorado Sadly Lost In This Last Year
Gallery Credit: Big Rob