Boots warns of possible store closures in the UK

The US owner of pharmacy chain Boots has warned of possible store closures in the UK as it tries to cut costs.

Walgreens Boots Alliance said it would take “decisive steps” to reduce costs as part of a company-wide “significant restructuring”.

The move comes after the chain said it had suffered its “most difficult quarter” since the firm’s formation, with UK like-for-like sales down 2.3%. The chain has 2,485 stores across the UK, employing about 56,000 staff.

A store portfolio review is currently underway across the global business, but Boots in the UK said there were no plans for major reductions, adding that it had managed to maintain its market share in the most recent quarter.

“We currently do not have a major programme envisaged, but as you’d expect, we always review underperforming stores and seek out opportunities for consolidation,” it said.

 

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