Minnetonka-based Snyder’s Drug Stores Inc. announced Wednesday that it will close or sell 19 of its 47 corporate stores in Minnesota by mid-March. The list includes the Albert Lea store.

A company spokeswoman said there are intentions to sell the pharmacy portion of the Albert Lea store to a local person. The store is at 201 W. Main St.

Most of the chain’s closings are in the Twin Cities metro area.

Snyder’s President Dave Schwartz said the company regrets the impact it will have on customers and employees, but the closings are necessary in this economy. Company officials said hundreds will be without jobs, but they wouldn’t give a number.

Snyder’s officials said the stores to be closed or sold are underperfoming, and are in areas where pharmacy care could be provided at a nearby location.

The drug store chain said it will become smaller and stronger, and will use a strategy that puts pharmacies and personalized service first.

There are 30 Snyder’s stores that are independently owned. Those are unaffected by Wednesday’s announcement.

The drug store first opened its doors in 1928 as a cigar and tobacco shop in downtown Minneapolis.

The affected stores include: three locations in Minneapolis, two in St. Paul, two in Brooklyn Park, three in Bloomington, as well as stores in South St. Paul, Hopkins, Inver Grove Heights, Albert Lea, Minnetonka, St. Anthony, Blaine, Champlin and Richfield.