Once a retail chain has been around for long enough, people tend to think of it as a constant in their everyday environment.
Take Sears, a department store founded in 1893 that was in every mall for decade after decade. Many adults remember being taken there as children to shop for school clothing and supplies, while our parents relied on the chain for everything from bed linens to household appliances.
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But despite operating successfully for more than a century and once being the world’s largest department store, Sears filed for bankruptcy in 2018 with $11.3 billion of debt and no way to pay it off. While Sears did re-emerge from bankruptcy in late 2022, it now operates a mere eight stores, with one in Braintree, Massachusetts, three in California, two in Florida, one in Texas and one in Puerto Rico.
Related: Major drugstore chain closing hundreds of struggling stores
Another retailer that recently vanished off the map is Forever21, the fast-fashion retailer that once dominated U.S. malls with its lemon-yellow shopping bags. Its trendy, cheap takes on popular styles made it a top pick for teens, especially in the early 2000s. But competition from online retailers offering similar products at even cheaper prices, such as Shein and Temu, may have delivered a hit Forever21 couldn’t sustain. Insiders also say its effort to expand into cosmetics and menswear fell flat for the retailer.
Now another chain that we think of as always being there may not be in the near future, as it’s just announced that it’s closing more locations.
This familiar pharmacy aisle may soon vanish from your local town.
Image source: Nicholson/UCG/Universal Images Group via Getty Images
124-year-old pharmacy struggles to survive
Despite more than a century in the business, Walgreens has been on its last legs for some years now.
In October 2024, Walgreens made the shocking announcement that it planned to close 1,200 of its locations in the U.S. over a three-year period. The reason for the closings cited was that a quarter of the stores were unprofitable, per Chief Executive Tim Wentworth.
Related: CVS wants to put something creepy into its stores
In 2025, the chain will close 500 locations as a part of that plan. Walgreens currently operates roughly 8,500 locations in the U.S., so that translates to the company shuttering just under 15% of its brick-and-mortar locations in total.
More closings:
Iconic ice cream chain unexpectedly closing locationsStruggling auto parts chain closing down all stores but oneAnother discount retailer closing over 1,000 storesIconic retail chain closing nearly 500 stores
While Walgreens and other pharmacies saw a boost during the days of Covid with people seeking out vaccinations and other care, that has faded as the pandemic has gotten under control.
The Illinois-based drugstore has also coped with other problems that have left it struggling, including retail theft, consumers shifting towards online shopping options, and a partnership with VillageMD in 2021 that cost Walgreens billions of dollars in lost revenue. While it sold off the company in early 2025, the damage had already been done at a crucial time.
Several more locations closing in the next 60 days
Now Walgreens is preparing to close several more locations of that 1,200 it originally announced, according to the company’s official website. These are in the Rhode Island area, with the Main Street in Lakeville location shuttering May 21 and the Wilbur Avenue location in Swansea scheduled to close on June 23. Lastly, the Walgreens at the corner of South Main Street and Hall Street in Fall River will close on June 26.
Prior to these closures, 12 locations have closed in San Francisco, five in Chicago, one in Rockford, Illinois, and one in Augusta, Georgia. Two were also shuttered in Oakland, California.
The upcoming store closings after the Rhode Island locations have not yet been announced by Walgreens.
Related: Bankrupt drugstore chain’s 1,200 leases go up for grabs
