More CVS Stores in New York State are set to close.

The chain had already closed a ton of stores in the past few years. In fact, they announced that it will close 900 stores eventually. They made that announcement in 2021. In Western New York, they just closed a location in North Tonawanda and announced the Hamburg location is next to close.

CVS is not the only chain to take major hits. Rite Aid has quickly depleted their stores and Walgreens is not too far behind either. Why are so many of these chains losing stores so quick? The stores site a few reasons: the insurance companies paying them out for medications, theft and online shopping all play major roles in the decline of these stores.

According to CNN:

CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores. And Rite Aid filed for bankruptcy last year and will close up to 500 stores.

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