Downtown fixture fades away Unwelcome change comes to the churn of downtown - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
February 3, 2024 Newswires
Share
Share
Post
Email

Downtown fixture fades away Unwelcome change comes to the churn of downtown

Winston-Salem Journal (NC)

The building that until Wednesday housed a CVS pharmacy isn't much to look at architecturally speaking.

A two-panel mural near the entrance adds a splash of color, but for the most part the downtown building represents form over function, designed to meet its purpose as a retail store.

And for decades it did just that.

Built before the renaissance of American downtowns made urban living retro chic, the CVS mostly served cubicle denizens and the working poor passing through the nearby bus station.

But to folks like George Bell, that particular CVS location was a literal lifeline. And with its shuttering - part of a nationwide consolidation by the drug chain - he's left scrambling.

"I'm epileptic. I can't drive and it's hard for me to get around," Bell said. "I'll manage but getting my medicine will be more difficult for sure."

Economic pressure

CVS announced the closing in a typically corporate way - via official statement surely vetted by a small army of PR types.

The company deemed the closing of 900 locations nationwide a "consolidation initiative" and said its decision came after a careful process that looked at such weighty matters as local market dynamics, population shifts and "geographic access" points.

"Maintaining access to pharmacy services in underserved communities is also an important factor we consider when making store closure decisions," the statement said.

Mm-hmm.

Odd, but pronouncements glossed over arguably the biggest factor in these sorts of transactions: profitability and the bottom line.

Pressure from online pharmacies, Amazon and enormous Walmart moving into the market no doubt played a major role.

And a company like CVS Healthcare, publicly traded since 1996, had to respond. It's far more than a simple neighborhood drug store.

CVS Healthcare is a big corporation that owns CVS Pharmacy, its retail arm, CVS Caremark (a pharmacy benefits manager) and Aetna (a health insurance provider) - a one-stop shop in the modern American health-care industry.

To the little guy who might struggle to balance rent with the cost of prescription drugs, it sure looks (and feels) like shareholder value matters as much as convenient and affordable care.

George Bell, who moved here from Santa Rosa, Calif., gets around by bicycle and the downtown CVS meant ease and convenience for the man who lives on Social Security disability.

His prescriptions have been transferred to the CVS at the corner of Martin Luther King Jr. Drive and New Walkertown Road - a newer, larger location. And getting there won't be as simple as taking a half-mile ride from his apartment off Sixth Street. He'll still take his bike but the volume of traffic crossing MLK will pose additional hazards.

"I'm not wealthy enough for Uber," he said with a laugh. "Not much choice there."

'Could be worse'

On its last official day, the downtown CVS looked (and felt) moribund.

Some of the metal racks had been partially disassembled and the supply of inexpensive canned goods, snack foods looked as if it hadn't been restocked in some time.

A lone employee removing items from shelves apologized half-heartedly for the state of disarray.

"We're closing," she said. "Not much left. The candy we have left by the register is half off."

Employees had been offered jobs at other locations, so the news for them wasn't all bad.

Still it represented change, unwelcome in a place that had become essential to people who survive day by day, and so the mood would be necessarily somber.

Across Fourth Street in Merschel Park, that new reality had already settled in as churn once again had come downtown.

Condos, the spanking new Kaleidium children's museum a few yards away on Third Street and a veritable feast of restaurants that came hand-in-hand with rebirth testify.

As one of those affected most, Bell sighed when asked for his thoughts on the matter.

"I can't be all dramatic about it, either," he said after a few beats. "I think about it like this. A lot of other people have it worse than me. I could be in Ukraine or the Middle East."

ssexton@wsjournal.com336-727-7481@scottsextonwsj

Older

Holding off onMedicare? Some tips to keep in mind

Newer

A great disservice

Advisor News

  • Could a narrower focus help grow your practice?
  • U.S. debt hits $40 trillion: how to support concerned clients
  • Flourish brings private-bank-like cash solution to MassMutual’s network
  • Majority of Americans concerned recent market highs are unsustainable
  • GLP-1 users choose between medication and retirement saving
More Advisor News

Annuity News

  • MassMutual Expands Lending Options With New Secured Credit Line
  • Corebridge Financial Introduces Progressive Trigger, a First-of-Its-Kind Index Annuity Strategy Designed to Turn Missed Years into Future Opportunity
  • Insurer proposes $1.1M deal to resolve CA teachers’ annuity fee lawsuit
  • IMOs get frustrated with slow carrier adoption of faster technology
  • New class-action lawsuit targets Delaware Life over annuity disclosures
More Annuity News

Health/Employee Benefits News

  • NABIP files suit over broker moratorium
  • Skyrocketing employee healthcare rates ‘a new normal’
  • Centene Corp. (NYSE: CNC) Hits New 52-Week Peak
  • Wipro Announces Results for the Quarter Ended September 30, 2026
  • Trump administration bars Pa. and other states from using federal funds on transgender youth care
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • SBLI Lowers OmniTrak Term Rates and Expands Underwriting Flexibility
  • Open Enrollment Starts November 1: Tampa Broker Ryan Michalek Urges Families and the Self-Employed to Check 2027 Costs Before They Auto-Renew
  • MassMutual Expands Lending Options With New Secured Credit Line
  • AM Best Affirms Credit Ratings of Aflac Incorporated and Its Subsidiaries
  • AM Best Upgrades Credit Ratings of Dah Sing Insurance Company Limited
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.