SHREVEPORT, LA - We could see some going out of business sales in Shreveport and Bossier later this year or next year. Walgreens has announced plans to close hundreds of stores across the U.S. within the next three years.

1130 The Tiger logo
Get our free mobile app

Walgreens CEO Tim Wentworth has told financial analysts “changes are imminent” for about 25% of the company's stores, which he claims have been underperforming. Walgreens currently has more than 8,600 in the United States. Wentworth says the company could be shutting the doors at a significant number of stores.Raedle/Getty Images and Canva

Walgreen Co. May Sales Increase 12.3 Percent
Getty Images
loading...

Wentowrth Says:

We are at a point where the current pharmacy model is not sustainable and the challenges in our operating environment require we approach the market differently.

Walgreens faces tough competition from CVS and Rite Aid, not to mention online pharmacies. Rite Aid is currently going through a bankruptcy reorganization.

These brick and mortar stores have been dealing with tight reimbursement dollars for medicines and higher costs to run the stores and pay workers.

 

Walgreen Co. May Sales Increase 12.3 Percent
Getty Images
loading...

Walgreens is also feeling the pressure from the big box stores like Target and Walmart along with Amazon which is now in the prescription business.

Wentworth adds:

Our customers have become increasingly selective and price sensitive in their purchases.

Drugstore Chain Walgreens To Buy Duane Reade
Getty Images
loading...

 

READ MORE: CVS Closing a Shreveport Store.

Will Walgreens Stores in Louisiana Be Closing?

We don't yet know the exact locations that are on the chopping block. But we do know Walgreens has dozens of stores across the state. There are about 20 stores in Shreveport Bossier. If the 25% number is accurate, that would mean 5 local stores could be shutting down. But it will depend on performance.

San Francisco Walgreens Locks Freezer Section Of Store To Thwart Shoplifters
Getty Images
loading...

Walgreens stores have also been impacted by a rise in thefts. Some states have cut back prosecutions for many shoplifting crimes and that has been a direct blow to many retailers.

20 Highest Paying Jobs in Louisiana

What Jobs Pay the Most in Louisiana?

Restaurants in NW Louisiana With Unclaimed Money

If you know any current or former owners of these restaurants, they might want to do a little digging to claim this cash.