Rumors about possible sale of Walgreens spark concerns about store, pharmacy closures [Video]

CHICAGO (CBS) — Deerfield-based Walgreens is pushing back on reports that it might sell to a private equity firm.

The iconic drugstore chain has been struggling financially—and a sale could lead to even more stores closing.

Experts said Tuesday night that the industry is facing hard times because of factors such as slowing sales and diminishing reimbursements—leading to store closures.

The experts worry that a sale of Walgreens—particularly to a private equity firm—would only accelerate that trend. This, of course, would mean not just a loss of the drugstores themselves, but also of pharmacies for people to pick up prescription drugs.

“The focus isn’t the neighborhood. it’s not the community,” said Christopher Crank, executive vice president of the Illinois Council of Health System Pharmacists, “and so what we could see is the number of pharmacies. Whatever the rate currently is, we could see the rate of those closures increase.”

Crank said there …