Current:Home > reviewsRekubit Exchange:Rite Aid closing more locations: 31 additional stores to be shuttered. -Ascend Finance Compass
Rekubit Exchange:Rite Aid closing more locations: 31 additional stores to be shuttered.
Surpassing View
Date:2025-04-07 17:12:44
Pharmacy chain Rite Aid is Rekubit Exchangeshuttering an additional 31 stores in a dozen states, according to a recent bankruptcy court filing.
The company announced more than 150 other store closures last month when it filed for Chapter 11 bankruptcy protection. A Wednesday news release said it operates more than 2,300 retail pharmacy locations across 17 states.
Rite Aid spokesperson Catherine Carter said the stores that will be closing have been underperforming and will be closed “to further reduce rent expense and strengthen overall financial performance.” The company plans to give workers at closing stores the option to transfer to other locations.
Why did Rite Aid file for bankruptcy?
Rite Aid, one of the largest pharmacy chains in the country, filed for bankruptcy in October as it faced slumping sales and more than a thousand federal, state and local lawsuits accusing it of fueling the opioid epidemic by illegally filling painkiller prescriptions.
The company’s stock had dipped more than 95% over the past year and closed up 2.4% Wednesday at $0.22.
Other pharmacies closing
The closures come as the U.S. pharmacy system as a whole struggles to operate efficiently with less staff. Pharmacists at some of the nation’s largest chains have started to protest deteriorating working conditions, with employees at Rite Aid, Walgreens and CVS staging walkouts in recent months.
Other pharmacy chains have also been shuttering stores. Walgreens in July said it planned to close 150 locations in the U.S. and another 300 in the United Kingdom, and CVS in 2021 announced plans to close 300 stores per year over the next three years.
Prescription for disaster:America's broken pharmacy system in revolt over burnout and errors
Which Rite Aid stores are closing?
California:
- 1020 Al Tahoe Blvd. in South Lake Tahoe
- 11230 Donner Pass Road in Truckee
- 1475 41st Ave. in Capitola
- 49060 Road 426 in Oakhurst
- 5747 Kanan Road in Agoura
- 1350 North Vasco Road in Livermore
- 4980 Freeport Blvd. in Sacramento
Connecticut:
- 66 Church St. in New Haven
Maryland:
- 1301 East State St. in Delmar
Michigan:
- 1301 West 14 Mile Road in Clawson
- 3681 Shawnee Road in Bridgman
New Jersey:
- 93 Atlantic Blvd. in Beachwood
- 121 West Main St. in Moorestown
New York:
- 335 Route 25A in Miller Place
- 5825-35 Broadway in Bronx
Nevada:
- 1329 U.S. Hwy 395 North, #1 in Gardnerville
Ohio:
- 5033 Suder Ave. in Toledo
- 4332 Cleveland Ave., NW in Canton
- 501 Water St. in Chardon
Oregon:
- 435 Liberty Street, N.E. in Salem
- 785 South Columbia River Hwy in St. Helens
Pennsylvania:
- 927 Paoli Pike in West Chester
- 821 East Bishop St. in Bellefonte
- 6200 Saltsburg Road in Pittsburg
- 2545 Aramingo Ave. in Philadelphia
Virginia:
- 163 W. Ocean View Ave. in Norfolk
- 7601 Granby St. in Norfolk
- 4501 News Road in Williamsburg
Washington:
- 15801 Pacific Ave. in Tacoma
- 1628 5th Ave. in Seattle
- 691 Sleater Kinney Road SE in Lacey
Spokesperson Carter said the company has not confirmed any decisions on additional store closures at this time.
veryGood! (3373)
Related
- New data highlights 'achievement gap' for students in the US
- Fires Fuel New Risks to California Farmworkers
- Florida couple pleads guilty to participating in the US Capitol attack
- Texas says no inmates have died due to stifling heat in its prisons since 2012. Some data may suggest otherwise.
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Chicago police officer shot in hand, sustains non-life-threatening injury
- A lawsuit picks a bone with Buffalo Wild Wings: Are 'boneless wings' really wings?
- Inside Clean Energy: How Norway Shot to No. 1 in EVs
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Fossil Fuel Companies Are Quietly Scoring Big Money for Their Preferred Climate Solution: Carbon Capture and Storage
Ranking
- Tom Holland's New Venture Revealed
- Jecca Blac’s Vegan, Gender-Free Makeup Line Is Perfect for Showing Your Pride
- Two teachers called out far-right activities at their German school. Then they had to leave town.
- 'This is Us' star Mandy Moore says she's received streaming residual checks for 1 penny
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Watchdogs Tackle the Murky World of Greenwash
- For Emmett Till’s family, national monument proclamation cements his inclusion in the American story
- Oppenheimer 70mm film reels are 600 pounds — and reach IMAX's outer limit due to the movie's 3-hour runtime
Recommendation
New data highlights 'achievement gap' for students in the US
Is it Time for the World Court to Weigh in on Climate Change?
Kendall Jenner Rules the Runway in White-Hot Pantsless Look
Las Vegas police search home in connection to Tupac Shakur murder
Current, future North Carolina governor’s challenge of power
Silicon Valley Bank's fall shows how tech can push a financial panic into hyperdrive
To Counter Global Warming, Focus Far More on Methane, a New Study Recommends
Illinois to become first state to end use of cash bail