Rite Aid, store closures
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Rite Aid announced more store closures after reportedly agreeing to sell pharmacy assets from over 1,000 locations. See closures in Delaware.
In addition to the 70 stores in Pennsylvania that are slated for closure, Rite Aid also listed six stores in Virginia, five in Oregon, four in California, three in Maryland, and one in Delaware. You can find original article here Supermarketnews.
The fate of many Rite Aid stores remains uncertain as the bankrupt chain sells off its retail and pharmacy assets. Some stakeholders want more transparency. Countless Rite Aid customers and employees are still waiting to learn the fate of their local pharmacies as the bankrupt drugstore chain sells off its assets and winds down operations.
That chain is, of course, closing all of its locations, but it did recently share some positive news with customers. When your local pharmacy closes down, the challenge becomes "where do I fill my prescriptions?
The Rite Aid located at 1233 SOM Center Road was purchased for $2.4 million on April 4, making it the third largest commercial sale in Cuyahoga County last month. The 14,000-square-foot building is located between Mayfield and Wilson Mills roads, adjacent to the Eastgate Shopping Center.
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Rite Aid has sold the pharmacy operations of more than 1,000 of its U.S. stores to major competitors, including CVS Health Corporation (NYSE:CVS), Walgreens, Albertsons, and Kroger, as part of its ongoing Chapter 11 bankruptcy process.