BOOTS could be shutting hundreds of stores, It has been reported.
We explain how many stores would close and where. Here’s what we know.
1 Two hundred Boots stores are being considered for closureCredit: Alamy
How many stores is Boots planning on closing and why?
The chain is considering closing more than 200 shops, Sky News has claimed.
More than 200 outlets were put under review for possible closure during the next two years.
If that number of Boots shut then it would be similar to just fewer 10 per cent of their standalone stores.
Sources told the broadcaster some affected shops will close when their lease expires.
They added that where possible, staff would be redeployed to a new or existing store.
Boots employs 56,000 people.
Boots could close shops after shock profit warning by US parent company Walgreens Boots Alliance
Where are the closures happening?
It is not clear yet.
Boots has been owned by New York-based private equity firm WBA since 2012.
Last year, the beauty chain saw it’s profits fall by more than 18 per cent and now aims to cut costs by £1.2billion by the 2022 financial year.
In April this year, the retailer had hinted that it could close shops and axe 60,000 UK staff after a shock profit warning.
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A spokesperson for Boots told The Sun: “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.
“As is natural with a business of our size, we have stores opening, closing and relocating on a regular basis, but we have had around 2,500 stores open for several years now.”
They added: “We are being realistic about the future and that we will need to be agile to adapt to the changing landscape.”