Biden’s Economy: Walgreens Announces It Will Shut Down Tons Of Stores

President Biden’s economy has now claimed another victim: Walgreens.

According to Walgreens Boots Alliance CEO Tim Wentworth, the chain, which is 123 years old, will shut down a significant number of its 8,600 stores across the nation. Wentworth told The Wall Street Journal that the company is examining roughly one-quarter of its stores and could close a “meaningful percent” of them.

“Retail pharmacy is central to our future and to our overall customer and patient experience. It enables many other things, but it has to change,” Wentworth stated.

Noting the increase in theft from its stores, Wentworth said Walgreens wants cities to help by “investing in public safety so that our customers and employees feel safe.”

“The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis,” CBS News reported in May.

“Nearly 20,000 businesses have warned they’re at risk of closing if President Joe Biden is elected to a second term,” Newsweek stated in mid-May. “In a new report from RedBalloon and PublicSquare, nearly half of the 80,000 small businesses surveyed said they ‘definitely’ or ‘probably’ will not survive another four years with Biden.”

“It’s been a difficult three years for America’s small businesses,” Michael Seifert, PublicSquare CEO, said. “While many inside the Beltway may feel like things are good, that isn’t translating to Main Street America—the frontlines of our small business economy.”

In March, Dollar Tree announced it would close roughly 1,000 stores, 600 Family Dollar stores in the first half of 2024 and 370 Family Dollar and 30 Dollar Tree stores over the next few years.

In May 2023, Joshua Kobza, CEO of Restaurant Brands International Inc., which owns Burger King, said 300 to 400 U.S. Burger Kings would be closed by the end of 2023.