The Walgreens near my office has closed. The store had lots of undocumented shoppers visiting it. A CVS here split and gave most of the store space to a Hispanic store while having just the pharmacy in it.
Could the company also see that a huge liability might have been attached to CVS corp with some sort of public health effort that happened within their walls. Private equity is not going to buy that part of the business, whatever signed agreements with government cannot be sold, but the store out front, the real estate and the distribution system have a value.
One part of getting corp loans and maintaining revolvers is the ability to quickly sell assets. Lawyers involved are going to look at the 3 year history of CVS corp programs and go, there is a huge unknown liability here. We can buy all the parts and leave the core stuck with jibby jabby liabilities. CVS needs to sell some real estate, at the bottom of the cycle, just to raise some cash to prepare themselves for a bed bath beyond dismantling. Make the front of the stores 711s and the back of the store cannabis dispensaries.