High street pharmacy chain Boots is to shut 300 of its stores by the end of this summer. Many of these stores have already shut, with more set to shut in the coming months.

The parent company of Boots, Walgreens Boots Alliance, revealed this plan last year as a measure to save £618 million. This move will affect many communities that rely on these stores for their pharmaceutical needs.

The Pharmaceutical Journal, Boots has now confirmed that a number of the stores planned for closure are still open and will shut no later than summer 2024. Eight stores have already been closed in Greater Manchester. Operating with some 2,100 stores in the UK, the company is focusing on reducing costs by closing some of its outlets. Walgreen Boots Alliance said in an annual financial report that it may close up to 650 Boots stores in the UK.

581 stores had already been closed by May 31, 2024, and another 69 could shut this summer. Boots UK commented that these closure plans had already been announced and do not in any way show new closures above the level previously communicated.

Walgreens Boots Alliance said in its quarterly report on June 27, 2024, that Boots UK had experienced 5.8 percent growth in pharmacy sales compared to the same quarter a year earlier. Walgreens Boots Alliance CEO Tim Wentworth said: “We continue to face a tough business environment, including ongoing pressures on the US consumer and the effects of recent market changes, which have reduced pharmacy profits.”

Why Boots Shutting Shops?

Closing this group of shops is not for all obvious reasons, but rather because it is part of cost-cutting measures. Maintaining a large number of stores is rather expensive, so closing some will enable the company to save money and focus on the most profitable locations. That is simply a strategy to stay competitive in a highly competitive market.

Impact on Communities

Closure of Boots stores will be a big problem for many people, given their reliance on their local pharmacy for medicines and health products. Now, customers are having to travel that extra mile to reach another Boots store or another chemist. For many, this could prove a challenge, especially for older people or those without transport.

How Will This Affect Employees?

Equally, following the shutdown of numerous stores, most of its employees will be rendered jobless. The company may attempt to hold on to a few of these employees by assigning them other stores to work in. Many will, however, remain redundant. This adds to the stress for workers uncertain about their employment security.

Boots’ Future Plans

Although the stores will be closed, Boots has the intention to continue serving customers through the remaining stores and their online services. They want to do good service and uphold their reputation for having a trusted pharmacy. They were also developing online shopping in order to make it more convenient and comfortable for the customer to buy products from home.

Conclusion

The news that Boots will close 300 of its stores by the end of this summer is of high magnitude for both the company and the customers. In one way, it saves money for Boots and makes it competitive, while in another way, it affects workers and communities. Businesses in the future will be sustained by the company being more focused on strengthening the rest of its stores, and it will have an enhanced online presence to serve its customers.