The retail chain has announced plans to consolidate its stores, leaving shoppers wondering which Boots stores are closing down.
The cost of living crisis has dealt blow after blow to the British high street, with shoppers tightening their belts and many large chains forced to cut down their portfolios. From household goods chain Wilko closing stores to several bank branches including NatWest closing sites, the number of empty units seems ever-increasing.
And now, just months after Lloyds Pharmacy closed down stores, Boots has announced plans to close 300 of its sites, despite seeing an increase in sales. We've taken a look at which Boots stores are closing and the reasons why below.
Which Boots stores are closing down?
Boots has announced plans to close 300 stores across the country over the next year. The exact locations of the stores set to close haven't been confirmed, but the retailer has said they will be shops that are close to another site.
The news means that Boots' portfolio will be reduced from 2,200 stores across the UK to around 1,900, and the closures will affect the 52,000 team members that Boots employs. However, it is understood there are no "proposed" job losses, as staff will be offered work at nearby Boots outlets and the majority of closures are within three miles of another store.
James Kehoe, global chief financial officer at Boots parent company, Walgreens Boots Alliance, told analysts: "We will continue to optimise our locations and opening hours, and expect to close an additional 300 locations in the UK and 150 locations in the US."
It comes after Boots closed a string of stores earlier this year, and in starting in 2019 Boots closed more than 200 stores over an 18-month period. Many of the closures were because the stores were loss-making, and two-thirds of them were within walking distance of another store.
In 2020, Boots announced 48 opticians were closing, resulting in 4,000 job losses.
Full list of Boots stores that have already closed
- Salford Shopping Centre, Greater Manchester
- Church Street, Malvern
- The Port Arcades Shopping Centre, Ellesmere
- King William Street, London
Why are Boots closing down stores?
Boots is closing stores across the UK because of an increase in online shopping, leading the retailer to take the decision to "consolidate" stores that are nearby to each other.
In its quarterly results, Boots said: "Evolving the store estate in this way allows Boots to concentrate its team members where they are needed and focus investment more acutely in individual stores with the ambition of consistently delivering an excellent and reliable service in a fresh and up to date environment."
While many chains have been struggling to keep doors open during the cost of living crisis, Walgreens Boots Alliance reported that retail sales jumped by 13.4% in the three months to the end of May, compared to the same period last year.
This was driven by a boost in online shoppers, with sales on Boots.com up 25% over a year ago and accounting for 14% of all retail sales.
Who owns Boots?
Boots is owned by Walgreens Boots Alliance, a holding company that also owns Walgreens in the US and several pharmaceutical manufacturing and distribution companies.
Walgreens first acquired a stake in Boots in 2012, from KKR, eventually taking full control in 2014 after purchasing the 55% stake in Alliance Boots that it did not already own.
Last year, Walgreens Boots shelved a sale of the retail chain after failing to find a buyer dur to the turmoil in global financial markets.
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