Walgreens cuts planned store closures

DEERFIELD, Ill. — According to several published reports, Walgreens is significantly reducing the number of stores it plans to close following its acquisition by the private equity firm Sycamore Partners, marking a significant shift from the aggressive downsizing strategy announced before the deal was completed.

The drugstore chain now expects to close fewer than 100 U.S. stores this year, according to media reports, a substantial reduction from earlier plans that envisioned hundreds of additional closures.

Before its acquisition, Walgreens unveiled a turnaround plan that called for shuttering about 1,200 underperforming locations nationwide. The initiative aimed to improve profitability and streamline operations as the company faced mounting financial and competitive pressures.

However, after Sycamore Partners completed its acquisition of Walgreens in August 2025, the investment firm reassessed the strategy and scaled back the closure plans. According to Inc. and other published reports, several hundred stores had already been closed, but the company no longer expects to proceed with the broader wave of shutdowns once anticipated. The revised outlook is significantly lower than projections that had suggested as many as 700 additional closures.

Walgreens recently confirmed to USA Today that a number of locations have closed or are scheduled to close, including stores in Washington, D.C.; Illinois; Missouri; New Jersey; New York; South Carolina; Virginia; Washington state; and Wisconsin. The company is also closing a distribution center in Houston. Walgreens did not disclose how many stores it expects to open or close through the remainder of the year. The chain recently opened new stores in Hollywood, Florida and Hampton Bays, New York.

At the time of the Sycamore acquisition, Walgreens operated roughly 8,500 stores across the United States. Today, the chain lists about 8,000 locations, reflecting the impact of its store rationalization efforts over the past two years.

The decision to preserve more stores than originally planned signals a notable change in direction under Sycamore’s ownership. The private equity firm has a history of investing in and restructuring retail companies, including Staples, Talbots and Nine West.

The scaled-back closure strategy suggests Walgreens and its new owner see greater value in maintaining a larger brick-and-mortar footprint as they continue efforts to reposition the business and strengthen its long-term performance.