Boots issues store closure update as the last of 300 branches set to close for good in weeks
PA
The closures will reduce Boots' UK store count from approximately 2,200 to 1,900
Boots has shared an update about the final phase of store closures as 300 branches are to leave the high street.
The closures aim to save £618million for Walgreens Boots Alliance, the parent company of Boots UK.
The health and beauty chain announced last year that it would close 300 branches as part of a plan to reduce its store count.
Over 290 stores have now shut as part of these plans. The remaining 10 stores are expected to close their doors for good by the end of October, reports say.
This marks the final phase of the mass closure programme announced by the health and beauty retailer in June 2023.
Despite the extensive shutdowns, Boots has assured customers that in most cases, an alternative store will be available within three miles of a closed location.
The closure plan was initially announced as part of a broader cost-cutting strategy.
Boots CEO Tim Wentworth explained the rationale, stating: "We continue to face a difficult operating environment, including persistent pressures on the US consumer and the impact of recent marketplace dynamics, which have eroded pharmacy margins."
Despite the closures, Boots has committed to supporting affected employees.
The company stated: "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."
Boots has not published a comprehensive list of the 300 affected stores, however these are a list of the stores that have already closed for good:
Boots' closures are part of a wider trend affecting the UK high street. Several other major retailers are also streamlining their operations.
The banking sector is also affected, with at least 292 bank branches set to close. This includes 128 Lloyds Bank, 32 Halifax, and 45 Bank of Scotland locations.
Boots recently reported a jump in sales for the latest quarter, despite the ongoing store closures.
The company saw higher sales across both its pharmacy and retail businesses for the quarter ending May.
However, total sales growth slowed to 1.6 per cent due to the impact of store closures over the past year.
The parent company, Walgreens Boots Alliance, reported overall group sales 2.6 per cent higher at $36.4billion (£28.8bn) for the same quarter.
In a significant leadership change, Boots UK announced that its managing director Sebastian James will step down in November after six years in the role.James reflected on his tenure, saying: "It has been a pleasure to lead this fantastic company and support its transformation during my time as managing director."