Walgreens closes 2 more Triangle locations soon. Here’s each store’s last day
Walgreens is closing more stores in Raleigh and Durham soon as part of the company’s response to larger business pressures.
The pharmacy giant is shutting down about 1,200 locations across the United States, facing “a challenging U.S. retail environment” and “net reimbursement pressure.”
News of the Triangle closures follows the shut down of two other locations in Raleigh and Durham earlier this year.
“We will continue to execute our previously announced turnaround plan aimed at stabilizing the retail pharmacy, including our footprint optimization program,” Walgreens shared in an emailed statement to The News & Observer. “Increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs.”
Which Walgreens stores are closing?
Walgreens locations in Raleigh and Durham are closing this summer:
- 4309 Wake Forest Road in Raleigh: Closing Thursday, June 26
- 1505 Broad St. in Durham: Closing Tuesday, June 24
“It is never an easy decision to close a store, and we know how important they are to the communities we serve and therefore do everything possible to improve their performance,” Walgreens said in the statement.
Customers who get their prescriptions filled at either of those locations don’t need to do anything and will be notified by mail, media relations senior specialist Jennifer Cotto said in an email to The N&O. They are also eligible for free delivery for 90 days and should speak with their pharmacist to set up that service.
Why are Walgreens stores closing?
In its fiscal year 2024 earnings report, Walgreens reported that it was facing “a challenging U.S. retail environment” and “net reimbursement pressure.”
The two previous Triangle store closures, along with the two forthcoming closures, are part of the retailer’s effort to cut costs.
“In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” Tim Wentworth, the CEO of Walgreens’ parent company, Walgreens Boots Alliance, said in the earnings report.
Walgreens is not the only pharmacy to struggle because of declining prescription reimbursements by large insurance plans.
Since 2022, The N&O previously reported, 100 of North Carolina’s community pharmacies have closed. Hundreds more closed across the country in 2023 alone.
Walgreens announces plans to be acquired
In March, Walgreens Boots Alliance shared that it entered into a definitive agreement to be acquired by an entity associated with the private equity firm Sycamore Partners.
Walgreens stores would be operated under the Walgreens brand.
“While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company,” Wentworth, the Walgreens Boots Alliance CEO, said in a news release. “Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds.”
The transaction is expected to close near the end of 2025, subject to regulatory and shareholder approval.
