Walgreens to close Springfield store

Deerfield, Illinois-based Walgreens Boots Alliance Inc. (Nasdaq: WBA) is shuttering one of its Springfield stores as part of a larger closure plan announced last year.

The Walgreens store at 1930 W. Grand St., at the intersection with Kansas Expressway, is scheduled to close Feb. 17, a company spokesperson confirmed.

"Our retail pharmacy business is central to our go-forward business strategy. However, increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing and supply needs," the spokesperson said in a provided statement. "When closures are necessary, like the one in Springfield, we will work in partnership with community stakeholders to minimize customer disruptions. We intend to redeploy the majority of our team members from those stores that we close."

Patients with prescriptions at the Grand Street store will automatically be transferred to the Walgreens at 2951 S. Campbell Ave. The company's website lists 11 stores in Springfield, including the closing location at Grand and Kansas Expressway.

The spokesperson said the Grand Street store is one of 1,200 locations slated to close over a three-year period. Walgreens announced those closures in its fiscal 2024 report in October, noting 500 stores would shut down in fiscal 2025.

Greene County assessor records indicate the roughly 14,000-square-foot building housing the Grand Street Walgreens is owned by Blackstone Group North LLC.

For the fiscal year that ended Aug. 31, 2024, Walgreens Boots Alliance reported an $8.6 billion net loss, compared with a $3.1 billion loss in the prior fiscal year, according to a news release. The company has roughly 12,500 stores.

WBA shares were trading at $12.97 as of 10:37 a.m., compared with a 52-week range of $8.08 to $23.77 per share.