Here are the four major retail chains shrinking their New Mexico footprint in February.
1. Big Lots
Albuquerque loses key discount destinations.
Following its bankruptcy restructuring, Big Lots is continuing to shed locations across the Southwest. New Mexico is taking a direct hit this month, with confirmed closures in the State largest city.
- Locations to Watch: The wind-down includes the store at 465 Coors Blvd NW and the location at 9500 Montgomery Boulevard NE in Albuquerque.
- The Vibe: These stores are currently in the final stages of liquidation. Shoppers can expect “Everything Must Go” sales to dominate February as the retailer attempts to vacate these large-format boxes, leaving significant vacancies in their respective shopping centers.
2. Walgreens
A pharmacy retreat in the Metro area.
Walgreens is executing a massive plan to close roughly 1,200 stores nationwide to stabilize its finances, and New Mexico is seeing a cluster of these cuts this winter. The company is targeting locations that are not profitable enough to sustain rising operational costs.
- Affected Communities: Confirmed closures have targeted locations in Albuquerque and Los Lunas.
- The Reality: For residents of Los Lunas, the loss of a major chain pharmacy adds friction to healthcare access, forcing prescriptions to be transferred to competitors or consolidated into remaining stores, which are likely to see longer wait times.
3. Advance Auto Parts
The “Fleet Optimization” hits the desert.…