Walgreens at 776 Market Closes After Just 7 Years In Business

Walgreens at 776 Market Closes After Just 7 Years In Business
Photo: Derek Highsmith/Hoodline
By Saul Sugarman - Published on December 06, 2016.

The Walgreens at 776 Market Street in the Financial District is shuttering after just seven years in business. Its last day is today, Dec. 6th.

The store, which opened its doors in 2009, is closing because of a “business decision,” said Walgreens spokesman Phil Caruso.

Pressed for details, Caruso only said the decision to close was a difficult one.

“These decisions are never easy, and from time to time we close stores," he said. "We decided to close this one as a business decision."

One possible reason for the closure: to go through with its planned acquisition of fellow drugstore chain Rite Aid, the Walgreens Boots Alliance, which owns the chain, must divest up to 1,000 of its stores in order to meet regulatory approval.

California is one of Walgreens' biggest markets. As of August 2016, there are 633 Walgreens stores in the state, second only to Florida, which has 831. In San Francisco alone, there are 66 Walgreens locations, according to the company’s website.

The closing location may have been targeted because it sits between two others, at 730 Market Street and 825 Market Street. Caruso said prescriptions from the closing location will be transferred to the 825 Market store.

Caruso couldn’t confirm the fate of the employees at the shuttering store, but said they’re typically offered roles at other locations.