Rite Aid closing all locations after decades in business
Rite Aid announced on its website that all locations will be closing.
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Rite Aid announced on its website that all locations will be closing.
Rite Aid has once again filed for bankruptcy. This announcement comes just seven months after the chain exited Chapter 11 and emerged as a private company. The financially strapped drug store chain said it is looking for a buyer, and re-filing for Chapter 11 bankruptcy protection will help facilitate that process. The company said it plans to keep its stores open throughout its bankruptcy.
Walgreens will close another 1,200 stores, starting with 500 over the next year. It's a big jump from a few months ago when the struggling chain announced it was shutting down 300 stores. Walgreen's biggest competitor, Pennsylvania-based Rite Aid also closed hundreds of stores this year.
Months after pharmacy chain Rite Aid filed for bankruptcy and got fresh financing amid struggling sales and opioid-related lawsuits, the company says it has completed its restructuring.
Police said the manager of a West Oak Lane Rite Aid was robbed after hailing an Uber ride to deliver a cash deposit for the business.
Police say two masked men in a Honda CR-V intentionally caused a crash with an Uber, then got out and robbed the Uber passenger - a manager at a Philadelphia Rite Aid store.
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The pharmacy reached a settlement with the Federal Trade Commission after the agency found Rite Aid used the software to unfairly target people of color.
Rite Aid allegedly used its surveillance system to incorrectly identify potential shoplifters, especially Black, Latino, Asian or female shoppers.
This includes four stores in Pennsylvania and two stores in New Jersey.
Rite Aid said it plans to shutter 154 locations across the nation, with many of the stores slated for closure in California and Pennsylvania.
But the major pharmacy chain says the filing is part of a plan to bring it back to financial health.
The company said it's restructuring to reduce its debt, adding that it has obtained $3.45 billion in new financing.
