Walgreens agrees to acquisition by private equity firm for almost $10 billion
Walgreens agrees to acquisition by private equity firm for almost $10 billion
Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.
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Private equity, huh?
Walgreens has about two year left before shutting down.
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Start the clock...
Although... my company went that route and ended up being sold to a big tech company, so there can be happy endings...
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Well, it took private equity over a decade to eventually kill Toys ”R” Us. Two years would be speed running their demise.
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Walgreens is in much worse shape than TRU was, though.
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Private equity - often funded by our own 401Ks, destroying every business they touch with almost no oversight. Strip mining American wealth before the rich abandon this country for various tax havens to set up their network states. Total trash.
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The excess wealth of the rich needs to be perpetually redistribed.
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So, in about 5 years, the only physical retail pharmacies for PPO plans in the US will be CVS, Costco, Walmart, and Kroger owned companies. Walgreens will be picked to the bone and Rite Aid is currently dying.
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so excited to have such a huge struggle getting my medications
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What’s wild is from my perspective and location, CVS and Walgreens are already gone. They still have stores here but they’re so understafffed and poorly managed that they’re unusable.
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Every Rite Aid became a wallgreens near me. We have 3 options (if you include Costco) soon to be twi options.
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Good, hope they strip it to the bone. Ever since they started locking up anything and everything in their store, I've tried to use them less and less. They're one of the biggest proponents on the side of the insane narrative that shoplifting is destroying American businesses, even though last I checked they were happy to engage in massive amounts of wage theft.
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You think being sold to private equity is going to make them remove the shelf locks?
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No, they'll be dismantled and sold as scrap
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No, I think they're going to stop existing in 5-10 years.
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Private equity is where corporations go to die.
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Holy fuck, you mean Walgreens will be cutting even MORE corners soon? What are they going to do, remove the walls from the businesses and sell them? Jesus christ.
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Whelp now we know Walgreens will get shittier, exploit workers more, exploit your personal data more, or more likely all of those and more. Time to stop going to Walgreens and wait for the economic zombies to move on
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Everything is coming down to privatization for the land grab. I give it a year before they’re out of business.
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I'm just going to throw this out there as an option for recurring maintenance drugs: