Retailer With 68 Locations in Maine Announces Mass Closures

This store, which can be found all across our Pine Tree State, has announced that they’ll be closing locations nationwide.

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The past few years have been absolutely brutal for retailers, with mass closures and announcements of closures becoming more and more common. 2024 has kicked things into overdrive, making an already tough situation worse.

Big box chains like Family Dollar, Express, and Macy’s have either closed or announced plans to close several stores across the country this year.

Unfortunately, this retailer is joining the growing list of those struggling to stay open.

It's unfortunate, but it seems this trend is here to stay. Many stores are shifting towards an online-first approach, focusing on competing with giants like Amazon rather than maintaining their physical locations. As a result, we're seeing less emphasis on in-person shopping.

So which retailer with nearly 70 locations in Maine has recently announced mass, nationwide closures?

As announced by the company in a statement, Walgreens is preparing to close up to 25% of its 8,600 stores in the U.S. by 2027. Additionally, reports surfaced that specific locations in Maine would be impacted.

According to WMTW, which had previously reported that five specific Walgreens locations in Maine would be part of the mass closings, a Walgreens representative has since confirmed that an official list has not been released by the company, and they cannot announce any specific closures at this time.

Walgreens stated that these closures are part of a strategy to eliminate underperforming stores.

CEO Tim Wentworth mentioned that more consumers are using online services for their pharmacy needs, contributing to the decision to close non-profitable stores.