Walgreens Closing 150 Stores in 2024 – Is Louisiana on the List?

LAFAYETTE, La. (KPEL News) - There are Walgreens locations in 65 cities and towns in Louisiana, but after Walgreens recently announced the closure of hundreds of stores across the country, there have been concerns that the state might be impacted.

Lafayette Parish, for example, has 11 locations. There are over a dozen in and around the Baton Rouge area, as well. Closing any of them could have a big impact on either community.

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The news that Walgreens is shuttering hundreds of stores this year isn't new - it first broke in the summer of 2023, and other pharmacy chains like CVS and Rite Aid made similar announcements later in the year.

Rite Aid, for example, is the third-largest pharmacy chain. It filed for bankruptcy in October and is reportedly in the process of closing roughly 400 to 500 of its approximately 2,200 stores.

"Rite Aid was undone by competition from larger rivals, its $3.3 billion debt load, and expensive legal battles for its alleged role in fueling the opioid crisis," CNN reported at the time.

But the Walgreens news could have an even bigger impact on healthcare across the country as its stores close. So far, there is no official list of which stores could close, though some locations in other states have been confirmed.

"CVS, Walgreens and Rite Aid are eliminating some locations as they face rising competition for these items from Amazon, big-box stores with pharmacies like Walmart, and Dollar General in rural areas," CNN reported. "Although drugstores benefited during the pandemic from people getting Covid-19 vaccines, fewer consumers visited stores to shop and prescription volumes fell because people were getting fewer elective procedures."

While online shopping and big box stores have been a threat and have undercut prices at these pharmacies, there have also been concerns that rampant lotting at stores in high-crime areas in California and elsewhere are forcing closures as well.

That could be playing a role in the company's decision, with a focus on the bottom line at a time when economic uncertainty is plaguing every American, from the business leaders to the average American consumer.

It's not just the pharmacies, though - a lot of major brands are closing down locations this year. You can see more below.