This massive essential retailer is now closing in Florida, part of the company’s plan to cut spending by a whopping $1 billion.
Walgreens has now confirmed that it will close all of its VillageMD clinics in the state of Florida.
The closures comes as part of the company’s plan to slash spending by $1 billion, with customers left wondering which locations will shut next, reports The-Sun.
VillageMD has over 50 locations in Florida alone, making it the state’s third-largest market.
The company, however, would now be closing.
“The company is supporting patients by giving them resources about where they can receive care, helping them access their medical records, and answering their questions,” A VillagMD spokesperson told the outlet.
It comes after Walgreens announced in October it was closing 60 of its health clinics.
In January, CEO Tim Wentworth said in an earnings call it had completed nearly half of those closures.
Customers have since been left fearing for the business’ future, wondering how many more locations will shut.
“I wonder how many clinics will ultimately be closed,” one person wrote on X, formerly known as Twitter.
“Looks like a lot more than the 60 they announced back in the fall.”
According to a report by Jefferies analysts in January, all VillageMD clinics in Florida are connected to Walgreens stores.
The main challenges for these co-located clinics were most likely not retaining enough doctors or patients to make a profit, per the analysts.
“If you’re co-locating with a retail pharmacy, it’s probably too small of a clinic to get the scale needed to make it work, to get the center-level economics to click,” Jeffries analyst Brian Tanquilut told Business Insider.
In 2021, Walgreens bought most of VillageMD for $5.2 billion.
They planned to open 1,000 VillageMD clinics next to their pharmacies by 2027.
Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida
Other Economy News Today
A massive restaurant now closes all locations in one major state, shocking employees after such short notices were provided.
Outback Steakhouse has unexpectedly announced it would close all of its locations in Hawaii “leaving workers shocked by the news”, reports The-Sun.
Employees claimed they were given just two days’ notice before the chain closed its last three locations in Hawaii.
The Australian-themed casual dining restaurant closed down its restaurants in Kapolei, Waipahu, and Kailua-Kona on February 18, according to local ABC affiliate KITV.
This news was confirmed by the executive director of the Hawaii Restaurant Association, Sheryl Matsuoka, who said the news was unexpected, according to Fox affiliate KHON-TV.
“The Outback brand has decided to pull out of Hawaii and it’s very unfortunate that the three locations will close up,” Matsuoka said.
Staff at claimed management informed them about the Sunday closure on Saturday morning.
Vanessa Glosson, an employee at the Kailua-Kona location said she wished she had been told earlier.
“It was kind of sad that it was such short notice due that a lot of people could have been looking for jobs elsewhere at the time,” Glosson said.
Wanda Wernar, a member of staff at the Waipio branch, explained how they were informed.
“Basically we found out this morning we were closing in two days,” Wernar said on February 17.
“Tomorrow is the last day of business, we’re opening tonight for dinner, we’re opening tomorrow and that’s it that’s the last day.”
A manager at one of the final three stores alleged the reason for the closure was the rising cost of prices and utilities on the island.
Matsuoka explained that these economic conditions had proved to be difficult for many restaurants.
“Restaurants, they try their best to stay in business but the margins are so small,” she said.
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Also Read: This Massive Mall Retailer Is Now Closing In California
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