UES Drug Store Hit in Latest Round of Walgreen Closures

Drug stores closures continue to plague Manhattan, with another one slated to close on the Upper East Side.

Walgreens, which is the second biggest drug store chain in the US after CVS, has announced that it will close 1,200 of its locations throughout the country over the next three years, including 500 nationwide this year. That round will include the Walgreens at 1191 Second Ave. which will shut down at the end of June.

Duane Reade, which is owned by Walgreen’s shut down several Manhattan locations earlier this year including one on the UES. In that round of closures, a Duane Reade at E. 89th and Madison closed in Feb. as well as one in Greenwich Village on West 4th St. in March. Two others had closed earlier in the year including one on Second Ave. near 29th St., where an Our Town reporter while checking out the store encountered a manager who was in the process of trying to stop a shop lifter from making off with goods.

For most of the residents who visited the latest store, the news comes as a surprise and is one of loss, particularly for individuals who have relied on the store for years.

“I came in here for years,” said one shopper who spoke with Our Town. “Very sad.” A second, having shopped at the store for four years, said, “I feel bad. I live right around the corner on the avenue,” and she said the store “had great people serving here.”

As the competition increases and customer trends change, Walgreens has been reviewing the overall store performance nationwide.

“We will continue to execute our previously announced turnaround plan to stabilize our retail pharmacy operations, which includes our store footprint optimization program,” a company spokesperson stated to Our Town. “It is never an easy decision to close a store, and we know how important they are to the communities we serve and therefore do everything possible to improve their performance. However, increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs. When closures are necessary, we will work in partnership with community stakeholders to minimize customer disruptions.”

Many people, especially in urban areas, are now shopping more online or turning to larger chain stores such as Target or Amazon for their pharmacy and retail needs.

Indeed, Our Town found that some local customers have already begun shifting their shopping habits. “I’m going to Target now,” one customer said, acknowledging the loss but adapting to the new reality.

The latest UES closure is part of an ongoing slimming down. In October, 2024, the company said it planned to close 1,200 unprofitable stores over the next three years, including 500 in 2025.

At the time, CEO Tim Wentworth described 2025 as a crucial “rebasing year” for the chain. “This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term.”

Then in March, the drug store chain’s parent company, Walgreen Boots Alliance, said it had an agreement to sell controlling interest to private equity firm Sycamore Partners for $10 billion.

Alpha Partners, a stock tracking service, said that Walgreens has been in decline even before the pandemic. And it noted that more shutdowns or selloff of assets could be ahead for the chain once the Sycamore deal is completed.

“Sycamore is more likely to strip WBA down than invest and try to rebuild the company,” Seeking Alpha said on May 4. “First, the company has no background in healthcare transactions, this private equity group has primarily bought in the retail space in the past. Second, this deal is being heavily financed with debt, so the company will likely have to sell assets to pay off the bonds being used to complete this transaction.”

The store on 1191 Second Ave. near 62nd St. will close for good on June 24. Patients who get their prescriptions filled at that store do not need to take any action, according to the company, which said customers will be notified by mail and prescriptions will be automatically transferred to the nearest Duane Reade at 1111 3rd Ave. Further, the company said it will give patients at the Second Ave store that is closing free delivery for 90 days and encouraged them to speak to their pharmacists to learn how to set up the service.

Correction: An earlier version of this article listed the wrong address for the Walgreen’s that is closing. The store at 401 E. 86th St. is not closing. We regret the error.