Shopko Pharmacy Closing in Powell
Written by Andrew-Rossi on January 18, 2019
One of Powell’s two pharmacies will be closing, as Shopko’s corporate owners announced this week that they are getting out of the pharmacy business.
The Powell Tribune reports that the changes are part of an overall restructuring plan which will help the corporation mitigate hundreds of millions of dollars of debt.
However, the store itself will remain open, being spared the fate of dozens of other Shopko stores around the country that will be closing their doors – including the stores in Greybull and Thermopolis. The Worland store has not been targeted for closure.
In a letter to customers, Shopko CEO Russ Steinhorst blamed the bankruptcy on the rise of online sales, along with competition from bigger companies like Walmart and Target.
The Tribune reports that Shopko has sold off 82 of its 234 pharmacies in recent months. Basin Drug purchased the Greybull pharmacy’s business, which has left the town of Greybull without a pharmacy.