Walgreens Boots Alliance, one of the leading pharmacy chains in the United States, announced its decision to close 1,200 stores over the next three years as part of a strategy to “stabilize” its operations. Of the 1,200 stores, 500 will cease operations in 2025, according to Walgreens CEO Tim Wentworth.

The pharmacy chain said Tuesday the closures will occur within the next three years, starting with 500 stores being shuttered in fiscal year 2025.

A staple pharmacy on the Upper East Side has already posted a sign that it will close in a few weeks. Residents say The Duane Reade, owned by Walgreens, competes with other retail pharmacies and shoplifters.

"I had previously been informed that this location was to be closed in mid-November, but that after several thefts in recent weeks the decision was made to close early," she said. The Walgreens website and voicemail messaging system says the store is "temporarily" closed but the pharmacy drive-thru is still open.

Walgreens announced 1200 stores will be closed down over the next three years while 800 more are still under consideration. Here's what we know.