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Walgreens struggling to sell stores
Walgreens is ready to shutter up to 1,000 stores, but no one is biting. In accordance with the closing of its deal to purchase Rite Aid, the Walgreens Boots Alliance must sell or close between 500 and 1,000 of its stores. However, there is a lack of interest among private equity firms, according to an Investopedia article. Walgreens still expects to move forward with the Rite Aid acquisition, which is slated to close in the second half of this year, the article said.
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Jo-Ann Stores names Fred’s, Walgreens vet to new exec role
Jo-Ann Fabric and Craft Stores has appointed Bryan Pugh to the newly created position of executive VP, stores and store operations. He will lead financial, operational and cultural leadership of Jo-Ann Stores.
Pugh joins Jo-Ann from Fred’s Pharmacy & Super Dollar where he served as executive VP, chief merchandising and marketing officer. His experience also includes serving as senior VP, chief merchandising officer at Walgreen Co. in addition to several roles of increasing responsibility at Tesco.
