Large pharmacy chain announces it will close 1,200 stores after losses of US$3 billion

Pharmacy chain Walgreens will close 1,200 stores across the country, the company announced today.

According to Forbes, the closures come on top of the company’s announced losses of $3 billion in the fiscal quarter ending August 31 of this year.

In comparison, the company announced a net loss of $180 million in the same quarter last year.

CNBC reports that the closures will occur over the next three years, with 500 planned for fiscal year 2025.

Store closures had already been suggested in June, when the chain first announced it planned to close a number of underperforming locations.

Walgreens operates about 8,700 locations across the United States. Central Pennsylvania locations include stores in Dover, York and Lancaster.