Minnetonka-based Snyder's Drug Stores Inc. announced Wednesday that it will close or sell 19 of its 47 corporate stores in Minnesota by mid-March.
Snyder's President Dave Schwartz said the company regrets the impact the move will have on customers and employees, but the closings are necessary in this economy. Company officials said hundreds of current employees will be without jobs, but they wouldn't give an exact number.
Snyder's officials said the stores to be closed or sold are underperfoming, and are in areas where pharmacy care could be provided at a nearby location.
The drug store chain said it will become smaller and stronger, and will use a strategy that puts pharmacies and personalized service first.
There are 30 Snyder's stores that are independently owned. Those are unaffected by Wednesday's announcement.
The drug store first opened its doors in 1928 as a cigar and tobacco shop in downtown Minneapolis.
The affected stores include: three locations in Minneapolis, two in St. Paul, two in Brooklyn Park, three in Bloomington, as well as stores in South St. Paul, Hopkins, Inver Grove Heights, Albert Lea, Minnetonka, St. Anthony, Blaine, Champlin, and Richfield.
