Why pharmacy chains are seeing mass store closures
Walgreens this week announced that 1,200 of its stores could close soon, while CVS, which is also in the process of major staffing cuts, announced Friday that CEO Karen Lynch was being replaced. Rite Aid filed for bankruptcy last year. Industrywide, an estimated 7,000 pharmacies have already shuttered in the last five years. Jo Ling Kent examines what is behind the closures.
Walgreens this week announced that 1,200 of its stores could close soon, while CVS, which is also in the process of major staffing cuts, announced Friday that CEO Karen Lynch was being replaced. Rite Aid filed for bankruptcy last year. Industrywide, an estimated 7,000 pharmacies have already shuttered in the last five years. Jo Ling Kent examines what is behind the closures.
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