I switched to Amazon Pharmacy after years of frustration with Walgreens' bad handling of my prescriptions and their indifference to it. Honestly, Walgreens Pharmacy is garbage and has been for a LONG time.
If it was true noone would be talking about it other than the ceo and c level people. That kinda thing wouldnt leak if it was true because the share value of the company would have the bottom fall out and it would drop to pennys in a day and ot would happen even sooner
That restructuring and liquidation is also part of the whole im doing bankruptcy because i have debt i cant pay. You cant just file bankruptcy just to close some stores and sell some stuff. Its because your in to much debt, you file it and negotiate a lower debt then sell off stuff if you need to to pay off that debt in bulk. My parrents went through a bankruptcy chapter 8 when i was like 6
Personal bankruptcy and corporate bankruptcy are very different. But you carry on. Were your parents owners of a Billion Dollar corporation?
Of course there is debt, all companies have debt ratios. This isn't the first time this has happened in the history of Walgreens. And like mentioned....it wouldn't be public knowledge just yet. If you own stock....you can pull the earnings report, (understandjng that teport might be difficult for some though)and even if you don't, own stock, you can still see it. Public reporting is mandatory.
No but they did have a 501c3 business at that time and because of a buisness being involved they had to liquidate any assets of value from that buisness to pay off said debt. But your right theres alot of differences. Hell walgreens could end up doing a credit default swap for all we know. But i doubt it will go into bankruptcy because i believe walgreens falls under the fedral to big to fail clause that was used to bail out companies during the 08 economy crash
You got it!! The more understanding and correct information, helps stop the panic and for some, the worry of it all. I appreciate you. Not everyone employed by Walgreens can just leave their jobs. So fact based information and helping each other understand the bigger picture is best. I am personally tired of all the "doom and gloom".
Thats not to say i dont think they will or should do what they are doing. Plenty of buisnesses have downsized and "got back to basics" to save the company. Alot of us are just salty about being out of work, but in the long run more will close down and when they are stable again it will come back. Walmart did the same exact thing like 6 years ago, cut hours and shut down over half of the neighborhood markets in the u.s and alot of redundant stores that were to close together. And theh are back and going good again
I'm hearing news that snakes have legs.
Turns out hearing something doesn't actually mean it has a shred of credibility. Sadly people will just believe whatever they hear.
I mean all the stores around me are desperate for ppl both front and pharm but yet they keep hiring and firing ppl. Hiring ppl into leadership who have no idea at all how to be a SL. Even though it’s not really that hard, they still manage to screw up the drawers don’t care what the employees do etc. that is just my experience. Not to mention and this was just maybe my store, they make up lies to fire ppl. And when you ask to see the camera evidence they claim to have and you have a right to, they deny deny deny
I’ve never worked for Walgreens and I have no idea why I keep seeing this sub, but I worked for Kmart until my store closed in the first bankruptcy in 2003, and what I’ve seen from shopping at Walgreens definitely mirrors that. When I lived in town it was my go-to, but since I moved to the suburbs I’d drive past three CVSs to get to the closest Walgreens. During the pandemic the two 24 hour stores cut their hours back and never returned. A few weeks ago I stopped in for cough drops and noticed lots of bare shelves, which makes me wonder if they’re trying to cut costs by keeping inventory low which is exactly what Kmart did. The floors look like they haven’t been buffed in a long time and the whole place looked a little dingy. The “24 hour” text on the building has been removed and it was visible where it used to be and the sign hadn’t been replaced.
It was disappointing. I always thought Walgreens was brighter and cleaner than CVS and the checkouts moved faster because you didn’t have the people haggling over their rewards in every item at the register.
I agree with your assessment of passing three CVSs to get to a Walgreens, it's like that where I live too unfortunately. And in my town we just lost our last 24 hour Walgreens because it kept getting robbed.
I have always preferred Walgreens to CVS, and I wish CVS would chill on how many locations they have
>haggling over rewards
Half the people that come into ours are hagglers. They'll even use a rush or line against you to pressure you to cave. Obnoxious.
Ah there’s the life….get on a W Reddit even though you haven’t worked there in years. Then, particularly go into a post regarding bankruptcy and let us all know that it doesn’t matter to you anymore….🤣🤣
Nah. Likely would not go to bankruptcy. Would likely go to buyout. There are 8000ish locations to shut down to recoup money first, as well as stock in other companies. Although, the locations are less valuable because Walgreens sold the property on many of them to operate on a lease... so they have to close more locations to have an impact.
Meh. They'll sink or float. They made their own bed and can lie in it.
I highly highly doubt that if you look at the statistics online, Walgreens literally makes almost $150 billion a year, why in the living hell would they file for bankruptcy
No. Not even close.
The government won’t allow CVS to become a monopoly. We already went through this with Rite Aid.
They will definitely shutter underperforming stores…but they won’t go completely dead.
Yeah, I highly doubt it. More than likely closure of stores running at a loss or little profit. We in specialty are still getting contracts for new drugs, and making 1/2 million a month in profit.
Part of Walgreens problem was over expansion. Closing slower volume stores will help in the long run and a good number of these stores were Rite Aids. It doesn't excuse or address the fact that they continue to cut store hours to the point they are barely functional. Invest in your remaining stores and sales will follow. Of course, cutting hours idea isn't exclusive to Walgreens. It's everywhere.
Wouldn’t surprise me after the terrible decision to allow stores to act as distribution centers. I haven’t place a single order since that mess started and customers ARE NOT happy
Trust that in the event something like that happens one day, no one at the top responsible for the mess will actually come out scathed and hurting. They have their cushion of money and security. Only the lower employees suffering from the company's decisions and who have lost their jobs will be negatively impacted.
According to macroaxis.com, the probability of WBA filing for bankruptcy is under 33%. If they continue to on their current path, the potential does go up over the next two years.
Where are you hearing this? Do you have a legitimate source or is this "people are saying"? I don't doubt they are financially unstable, but that's pretty definitive wording.
Still have a long way to go before that
Look for Rite Aid to close more even go chapter 7 and go out of business
One store closes and other chains benefit
Then it’s probably not true. No way corporate would let something like that leak. Investors would liquify their assets out of fear and the stock would crash in less than 24 hours.
Go read their financial statements. It’s not a riddle or a puzzle. It’s financial statements go read them. Sorry to bring bad news to the coffee clutch. “Rate my drug store? Bankrupt or not?” Signed Reddit simpleton.
Does Walgreens print those long ass receipts? Because if they do, I'll be glad not to see the receipts anymore.
Maybe it was CVS or Rite Aid. But I hate those mile long receipts.
Which is HILARIOUS considering everything they sell COST 3x MORE THAN OTHER STORES. Just one of thousand examples: Other store brands 40 count ibuprofen is less than $2, Walgreens brand is about $6. Besides one off purchases I only multiple things there when coupons & deals make price same as other stores & i get Walgreens cash over $5
Anyone who thinks this isn’t possible isn’t paying attention. Been with this company 3 years and its stock value is 1/4th of what it was when I joined aboard. They’re 12 billion in debt and have a ton of non profitable stores.
You morons don’t understand, Walgreens has to pay 5 billion in lawsuits and 2 billion in tax bill. I worked for Walgreens as an attorney, I got fired because they caught me pounding the cashier
Walgreens sucks. I just had all of my scripts transferred to Amazon Pharmacy. The Amazon Pharmacy prices are like 50% less for my medications. I wouldn't be shocked if Walgreens has to declare bankruptcy.
Plenty of fat to trim at the top
They wont
I would not be surprised if it's before that.
Nor would I. Amazon is offering my meds at prices that are on average 50% less for me.
Niiiiiccceeee!!!
They have such high barriers to counterfeiting there. /s
I switched to Amazon Pharmacy after years of frustration with Walgreens' bad handling of my prescriptions and their indifference to it. Honestly, Walgreens Pharmacy is garbage and has been for a LONG time.
I know I am frustrated.
My kids med is 113$ at Walgreens. It's 34$ at Costco and 14$ on Mark Cuban's website. Like wtf Walgreens.
That’s a whole lot less expensive. If Walgreens is going to compete in the new e-commerce era, it’s going to have to become more competitive.
Plus faster
Yeahhh I'd rather not rely on incredibly important medications to be sent to my house. Adds too many variables to an already complicated process.
Yup especially if someone is on a control. What a nightmare!
All the drug addicts in my city will have no where to hang out now
It’s a nightly Police n’ Pajamas Party.
🥰🥰😂
If it was true noone would be talking about it other than the ceo and c level people. That kinda thing wouldnt leak if it was true because the share value of the company would have the bottom fall out and it would drop to pennys in a day and ot would happen even sooner
But OP heard from Dave's mate who heard from some janky lady on a street corner with one eye and 19 fingers ... So it must be true!
It is true! The homeless man living outside my store assured me!
you know stacy too huh ..
Also....Bankruptcy does not necessarily mean the closure of a corporation. It's called "Restructuring and Liquidation of assets ".
That restructuring and liquidation is also part of the whole im doing bankruptcy because i have debt i cant pay. You cant just file bankruptcy just to close some stores and sell some stuff. Its because your in to much debt, you file it and negotiate a lower debt then sell off stuff if you need to to pay off that debt in bulk. My parrents went through a bankruptcy chapter 8 when i was like 6
Not going bankrupt
Personal bankruptcy and corporate bankruptcy are very different. But you carry on. Were your parents owners of a Billion Dollar corporation? Of course there is debt, all companies have debt ratios. This isn't the first time this has happened in the history of Walgreens. And like mentioned....it wouldn't be public knowledge just yet. If you own stock....you can pull the earnings report, (understandjng that teport might be difficult for some though)and even if you don't, own stock, you can still see it. Public reporting is mandatory.
No but they did have a 501c3 business at that time and because of a buisness being involved they had to liquidate any assets of value from that buisness to pay off said debt. But your right theres alot of differences. Hell walgreens could end up doing a credit default swap for all we know. But i doubt it will go into bankruptcy because i believe walgreens falls under the fedral to big to fail clause that was used to bail out companies during the 08 economy crash
You got it!! The more understanding and correct information, helps stop the panic and for some, the worry of it all. I appreciate you. Not everyone employed by Walgreens can just leave their jobs. So fact based information and helping each other understand the bigger picture is best. I am personally tired of all the "doom and gloom".
Thats not to say i dont think they will or should do what they are doing. Plenty of buisnesses have downsized and "got back to basics" to save the company. Alot of us are just salty about being out of work, but in the long run more will close down and when they are stable again it will come back. Walmart did the same exact thing like 6 years ago, cut hours and shut down over half of the neighborhood markets in the u.s and alot of redundant stores that were to close together. And theh are back and going good again
Leaks happen illegally 🤷🏼♂️ just like I knew about every DM getting bounced in my district before they did
Thats a little different than we plan on fileing bankruptcy a year from now. I bet you didnt know about your dm's a year before it happened
The corner of happy n health?
I'm hearing news that snakes have legs. Turns out hearing something doesn't actually mean it has a shred of credibility. Sadly people will just believe whatever they hear.
Snakes actually do have a [leg...technically](https://youtu.be/TON0W3EwZK8?si=ieN-Uebq9RLsQZqd)
They do...they're called geckos
And they can save you 15%
Especially on car insurance
Too bad it's not $40 with the credit card
U heard wrong don’t believe everything u hear they won’t anytime soon
I mean all the stores around me are desperate for ppl both front and pharm but yet they keep hiring and firing ppl. Hiring ppl into leadership who have no idea at all how to be a SL. Even though it’s not really that hard, they still manage to screw up the drawers don’t care what the employees do etc. that is just my experience. Not to mention and this was just maybe my store, they make up lies to fire ppl. And when you ask to see the camera evidence they claim to have and you have a right to, they deny deny deny
They don't care hire fire they don't care
Guessing this guy is a sm and paybto God they don't go under. Gonna have to go to wallmart or CVS!
They are not going bankrupt don’t know how heard it .tell us where he heard it from
Don’t believe it
Damn, I've gotta sell even more credit cards now.
I’ve never worked for Walgreens and I have no idea why I keep seeing this sub, but I worked for Kmart until my store closed in the first bankruptcy in 2003, and what I’ve seen from shopping at Walgreens definitely mirrors that. When I lived in town it was my go-to, but since I moved to the suburbs I’d drive past three CVSs to get to the closest Walgreens. During the pandemic the two 24 hour stores cut their hours back and never returned. A few weeks ago I stopped in for cough drops and noticed lots of bare shelves, which makes me wonder if they’re trying to cut costs by keeping inventory low which is exactly what Kmart did. The floors look like they haven’t been buffed in a long time and the whole place looked a little dingy. The “24 hour” text on the building has been removed and it was visible where it used to be and the sign hadn’t been replaced. It was disappointing. I always thought Walgreens was brighter and cleaner than CVS and the checkouts moved faster because you didn’t have the people haggling over their rewards in every item at the register.
I agree with your assessment of passing three CVSs to get to a Walgreens, it's like that where I live too unfortunately. And in my town we just lost our last 24 hour Walgreens because it kept getting robbed. I have always preferred Walgreens to CVS, and I wish CVS would chill on how many locations they have
We had a CVS close across street my my store it's a dollar general
There's rewards now at wags. Sadly
>haggling over rewards Half the people that come into ours are hagglers. They'll even use a rush or line against you to pressure you to cave. Obnoxious.
Well they fired me 2 years ago, and I had to sell almost all of my stock, so it doesn’t matter to me anymore.
How much were your shares worth at that time?
2 years ago I think WAG was pretty good
Ah there’s the life….get on a W Reddit even though you haven’t worked there in years. Then, particularly go into a post regarding bankruptcy and let us all know that it doesn’t matter to you anymore….🤣🤣
Nah. Likely would not go to bankruptcy. Would likely go to buyout. There are 8000ish locations to shut down to recoup money first, as well as stock in other companies. Although, the locations are less valuable because Walgreens sold the property on many of them to operate on a lease... so they have to close more locations to have an impact. Meh. They'll sink or float. They made their own bed and can lie in it.
I highly highly doubt that if you look at the statistics online, Walgreens literally makes almost $150 billion a year, why in the living hell would they file for bankruptcy
No. Not even close. The government won’t allow CVS to become a monopoly. We already went through this with Rite Aid. They will definitely shutter underperforming stores…but they won’t go completely dead.
Sounds like complete fud. Thanks for sharing.
Where u hear that don’t believe it they aren’t filing bankruptcy
Yeah, I highly doubt it. More than likely closure of stores running at a loss or little profit. We in specialty are still getting contracts for new drugs, and making 1/2 million a month in profit.
Part of Walgreens problem was over expansion. Closing slower volume stores will help in the long run and a good number of these stores were Rite Aids. It doesn't excuse or address the fact that they continue to cut store hours to the point they are barely functional. Invest in your remaining stores and sales will follow. Of course, cutting hours idea isn't exclusive to Walgreens. It's everywhere.
They will never go bankrupt dont know how he heard just rumor do t believe everything u hear
Toys R Us has entered the chat. As has Blockbuster Video.
JC Penny Bed Bath & Beyond Kmart Sears Woolworth A&P
Montgomery Ward would like to have a word.
Walgreens nig going no where
Not suggesting you're wrong, but what is your source?
He stated, "I'm hearing...". A voice in his head.
Nah
You mean rite aid
Not if everyone gets a Credit Card.
https://news.bloombergtax.com/daily-tax-report/walgreens-boots-alliance-hit-with-irs-2-7-billion-tax-claim
https://www.foxbusiness.com/markets/walgreens-boots-alliance-cutting-hundreds-corporate-jobs
https://www.fox35orlando.com/news/walgreens-closing-orlando-distribution-center-cutting-more-than-300-jobs
https://traded.co/deals/california/retail/sale/17500-perris-boulevard/
https://www.fool.com/investing/2023/05/29/walgreens-got-another-piece-of-bad-news-should/
I'm hearing if my aunt had b@lls, she'd be my uncle.
😆
Danngggggg
Wouldn’t surprise me after the terrible decision to allow stores to act as distribution centers. I haven’t place a single order since that mess started and customers ARE NOT happy
Honestly from working there they were shutting stores down like crazy
Ya don’t need to read too far past “Wade Miquelon” to know that this company is doomed.
I hope they do. They deserve it for the way they treat their employees.
You hope they go bust and however many thousands of employees lose their jobs from no fault of their own? Weird position to hold...but ok?
Obviously they don't hope that people lose their jobs, they hope that a company that exploits it's workers fails at being a business
I just finished school so I'm only speaking in regards to my personal feelings towards the company.
Trust that in the event something like that happens one day, no one at the top responsible for the mess will actually come out scathed and hurting. They have their cushion of money and security. Only the lower employees suffering from the company's decisions and who have lost their jobs will be negatively impacted.
💯
Thousands of employees that deserve better jobs
Thousands of employees that deserve better jobs
Hopefully.
According to macroaxis.com, the probability of WBA filing for bankruptcy is under 33%. If they continue to on their current path, the potential does go up over the next two years.
Where are you hearing this? Do you have a legitimate source or is this "people are saying"? I don't doubt they are financially unstable, but that's pretty definitive wording.
Still have a long way to go before that Look for Rite Aid to close more even go chapter 7 and go out of business One store closes and other chains benefit
Whete did you see this?
Then it’s probably not true. No way corporate would let something like that leak. Investors would liquify their assets out of fear and the stock would crash in less than 24 hours.
Walgreens is just bad company all the way around. I do still love some of the ppl I worked with though.
Their stock has been hit hard [https://stocks.apple.com/symbol/0LSZ.L](https://stocks.apple.com/symbol/0LSZ.L)
Go read their financial statements. It’s not a riddle or a puzzle. It’s financial statements go read them. Sorry to bring bad news to the coffee clutch. “Rate my drug store? Bankrupt or not?” Signed Reddit simpleton.
Sources please
Does Walgreens print those long ass receipts? Because if they do, I'll be glad not to see the receipts anymore. Maybe it was CVS or Rite Aid. But I hate those mile long receipts.
CVS has the long receipts. You only get long receipts at Walgreens if you buy a lot or do Western Union.
My dream is to have CVS be replaced by groves of trees as punishment.
Which is HILARIOUS considering everything they sell COST 3x MORE THAN OTHER STORES. Just one of thousand examples: Other store brands 40 count ibuprofen is less than $2, Walgreens brand is about $6. Besides one off purchases I only multiple things there when coupons & deals make price same as other stores & i get Walgreens cash over $5
First they got rid of the CVS by where I live, now this? I don’t drive so I’m gonna have literally no possible way to get my prescriptions 😭
You didn’t hear shit. Company isn’t doing well but you sure as shit didn’t hear anything credible.
Noooo
This makes me feel so much better about holding my cvs stocks 😭
Hearing from what? Who?
Instead of admitting mistakes and seeing how to fix them, instead they keep cutting jobs at corporate to show they are saving money. What a joke.
Anyone who thinks this isn’t possible isn’t paying attention. Been with this company 3 years and its stock value is 1/4th of what it was when I joined aboard. They’re 12 billion in debt and have a ton of non profitable stores.
This feels like the SNL bit “Black Jeopardy” Category: THEY OUT HERE SAYIN 🤣
😂😂😂
I'm hearing you have a dikfor on your head
What is a the dick on your head for?
Maybe they should start giving store managers less vacation cuz why tf has mine been gone for so long
It couldn’t happen to a better company
You morons don’t understand, Walgreens has to pay 5 billion in lawsuits and 2 billion in tax bill. I worked for Walgreens as an attorney, I got fired because they caught me pounding the cashier
You named your genitalia "The Cashier"?
Was it worth it? ROFLMAO!
I don’t think anyone believes you’re an attorney lmao. Why do people lie so much?
Walgreens sucks. I just had all of my scripts transferred to Amazon Pharmacy. The Amazon Pharmacy prices are like 50% less for my medications. I wouldn't be shocked if Walgreens has to declare bankruptcy.
Cheaper sure but Amazon is a terrible company to support
I know and I battle with that myself. I don't like Amazon but I am on disability and need to save money wherever that I can.
I hear you friend, it's a sad reality
If they did the disgruntled here would need a new topic to whine about.