By Jeffery Smith jsmith@the-leader.com

BATH - CVS Caremark Corp., the nation's second-largest pharmacy chain, will close its CVS drugstore on Liberty Street in late January.

Village Mayor Bill von Hagn said he was notified earlier this week by a CVS regional director that the store, which has been an important part of downtown Bath for more than 20 years, will close Jan. 28.

“This will definitely have a negative impact on the downtown,” von Hagn said. “Several people utilize that location for daily shopping. It’s a shame.”

CVS Health executives recently outlined their long-term strategy for growth, which includes closing 70 stores in early 2017, according to CVS officials. The drugstore retailer's overall cost-cutting plans aim for $3 billion in savings from 2017 to 2021.

Von Hagn said village officials will immediately begin work with outside companies to find a business to rent or purchase the soon-to-be vacant location.

“It will be a huge loss,” von Hagn said.

Von Hagn said CVS officials indicated they will work to ensure that employees at the current Liberty Street location will have the opportunity to transfer to other local CVS locations.

Area locations included Dansville, Wayland, Watkins Glen, Chemung and Mansfield, Pa.

CVS Caremark is a public company whose common stock shares are traded on the New York Stock Exchange under the symbol CVS. The company currently has more than 7,000 stores nationally.