This ad will be closed automatically in X seconds.

Boots warns of UK store closures

The American owner of pharmacy chain Boots has warned of possible UK store closures as it looks to slash costs following the ‘most difficult’ quarter in the group’s history, with like-for-like sales down by 2.3%.

US-based Walgreens Boots Alliance said it would be prepared to take ‘decisive steps’ to cut costs as part of a company-wide restructuring and that it is looking at poorly performing shops as well as ‘opportunities for consolidation’.

It also revealed that the store portfolio review is underway across the global business, including the 2,485 retail stores across the UK which employ about 56,000 staff.

The cost cutting plans follow the company’s announcement in February that 350 jobs are at risk in its Nottingham head office amid plans to trim HQ staff costs by 20%.

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.

MORE NEWS
Duploapp500x500
 
Touch Press and LEGO Group team for app to help children achieve key early learning goals....
mp500
 
Nursery brand has been fined £20,000 for selling almost 150,000 unsafe car seats....
Stiglet500x500
 
Little Stiglet will front campaign through to spring/summer 2020 for Wheelz and Flyers category....
LilCubsMM500x500
 
Two limited edition prints have been specially designed to celebrate the brand....
emmas500
 
Emma's Diary reveals that parents seek out niche brands and personalisation services....
joolz500
 
Lindsay May, country manager for Joolz, shares the brand's sustainability focus. ...
Get the latest news sent to your inbox
Subscribe to our daily newsletter