Why is Walgreens closing so many stores? NBC Chicago [Video]

Five Chicago Walgreens stores will soon close their doors for good, a company spokesperson confirmed to NBC Chicago Tuesday. The store closures come as the Deerfield-based pharmacy giant plans to close up to 1,200 “underperforming stores” by 2027.

According to CNBC data, approximately one-quarter of Walgreens’ 8700 locations were considered “unprofitable” by the company and subject to potential closure.

“Our retail pharmacy business is central to our go-forward business strategy. However, increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs,” the company said in a statement. “It is never an easy decision to close a store. We know that our stores are important to the communities that we serve, and therefore do everything possible to improve the store performance. When closures are necessary, like those here in Chicago, we will work in partnership with community stakeholders to minimize customer disruptions.”

Walgreens added that said …