Boots Could Close Stores And Axe Some Of Its 60,000 UK Staff

BOOTS will go ahead with closing hundreds of its stores across the country over the next 18 months.

We explain how many stores will close and where. Here’s what we know.

 200 Boots stores are being closed>1
200 Boots stores are being closedCredit: Alamy

How many stores is Boots closing and why?

Boots has now confirmed previously announced plans to close more than 200 shops.

The storeswill shut in the next 18 months.

Boots is one of Britain's largest retailers with more than 2,400 branches and 62,000 staff members across the UK.

The announcement means roughly 8 per cent of Boots high street branches will close.

Many of the stores are set to shut because they're loss-making while around two-thirds of them are within walking distance of each other.

Boots says that an "overwhelming majority" of staff affected will be redeployed to neighbouring stores, although it won't say how many will be impacted.

Boots UK's managing director Sebastian James said: "WBA has now approved an outline plan to consolidate around 200, principally local pharmacy, stores where we have a large number within close proximity."

"We believe this is the right thing to do as it means that we can invest more in staffing those stores while not reducing our 90% coverage within a 10-minute drive of a Boots."

Where are the closures happening?

US owner Wallgreen Boots Alliance (WBA) said it could not confirm specific stores earmarked for closure at this stage, as it had only just started the process.

Boots has been owned by New York-based private equity firm WBA since 2012.

Last year, the beauty chain saw its profits fall by more than 18 per cent and it now aims to cut costs by £1.2billion by the 2022 financial year.

In April 2019, we reported how Boots had hinted that it could close shops and axe some of its 60,000 UK staff after a shock profit warning.

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In May, Marks & Spencer announced that it is considering closing more stores as part of a restructure.

Debenhams, Mothercare and New Look have also all closed stores over the past year in a bid to scale back outgoings.

Meanwhile, Philip Green's high street empire, including Topshop, was this month saved from the brink of collapse after his wife agreed to bail him out of financial woes.

Boots could close shops after shock profit warning by US parent company Walgreens Boots Alliance


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