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30 May 2019, 17:16 | Updated: 30 May 2019, 17:17
Is your local Boots store set for a potential closure?
It could be bad news for fans of high street store Boots, because the healthy and beauty giant is reportedly considering closing more than 200 shops.
According to Sky News, many outlets have been put under review for possible closure during the next two years.
If 200 stores shut down, it would equate to 10% of their huge portfolio of 2,500 shops.
The business also owns more than 600 Boots Opticians practices, and 500 Boots Hearingcare shops.
This comes as it’s US parent company - Walgreens Boots Alliance - attempts to cut $1bn (£790bn) in costs worldwide, in order to “offer customers lower prices and better services.”
Sources told Sky News the affected shops are thought to close when their lease expires but added that staff would be relocated to a new or existing store where possible.
Boots currently employs 56,000 people, but up to 350 jobs are already at risk at the company’s head office in Nottingham as part of cost-cutting plans.
It’s not yet clear which stores could be affected, but Boots bosses have since revealed that while they don’t have a store closure programme set up, they are “realistic about the future”.
“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,’ a spokesperson told us at Heart.co.uk.
“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 continued: “In fact we’re investing in our stores – last year, we completed a huge merchandising project to update our self-selection cosmetics areas in 2,200 of our stores.
“We have recently announced the planned opening of a new flagship store in Covent Garden, London and the reinvention of our beauty business in 24 stores across the UK."
Before adding: "We are being realistic about the future and that we will need to be agile to adapt to the changing landscape.”