Walgreens buys 63 pharmacies out of bankruptcy

Walgreens purchased 63 pharmacies from Shopko Stores Operating Co. during a bankruptcy auction Jan. 28, reports the Milwaukee Business Journal.

Shopko filed for Chapter 11 bankruptcy protection in January, announcing the closure of 105 stores. The company also shared plans to sell off its remaining pharmacy assets.

A bankruptcy judge auctioned off 120 Shopko pharmacy stores, generating about $52 million in proceeds. Shopko's anticipated debtor-in-possession budget is $84 million, according to court records obtained by the Milwaukee Business Journal.

CVS Health also purchased 13 Shopko pharmacies at the auction, and Albertsons bought eight.

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