Why is Rite Aid closing in Ohio?

Since then, the chain closed hundreds of stores, including 16 more locations in Ohio during additional recent downsizing. Rite Aid filed for bankruptcy to restructure and cope with losses and lawsuits related to opioids and intends to sell parts of its company .

How many Rite Aid stores are there in Ohio?

According to riteaid.com, the company has 142 stores in Ohio. However, the listings include some stores that are expected to close.

How many stores does Rite Aid have in the US?

We operate more than 1,700 retail pharmacy locations across 16 states with a workforce of more than 45,000 strong.

Is Walgreens buying out Rite Aid?

Walgreens wound up buying 2,186 Rite Aid stores for $5.18 billion , cutting Rite Aid's store count in half. It also paid Rite-Aid a $325 million termination fee.

Why is Rite Aid in trouble?

NEW YORK -- Rite Aid filed for Chapter 11 bankruptcy protection Sunday, a casualty of a miserable environment for drug stores, exacerbated by its runner-up status to bigger chains and expensive legal battles for allegedly filling unlawful opioid prescriptions. The bankruptcy was not a surprise.

Who bought out Rite Aid?

Further negotiations led to a fourth revised deal, in which Walgreens would purchase 1,932 Rite Aid locations for $4.38 billion, which was approved by the FTC on September 19. The revised sale was completed on March 27, 2018, leaving Rite Aid with roughly 2,600 remaining stores.

Who is the rival of Walgreens and Rite Aid?

Rite Aid is a major player in the drugstore segment of the retail industry. Some of its direct competitors including CVS Health and Walgreens Boots Alliance. The chain also faces competition from major retailer Walmart and pharmacy departments of major national supermarkets.

Should I buy Rite Aid stock?

Is Rite Aid stock a Buy, Sell or Hold? Rite Aid stock has received a consensus rating of sell . The average rating score is and is based on 0 buy ratings, 0 hold ratings, and 3 sell ratings.

What is the Rite Aid scandal?

In a complaint filed in federal court, the FTC says that from 2012 to 2020, Rite Aid deployed artificial intelligence-based facial recognition technology in order to identify customers who may have been engaged in shoplifting or other problematic behavior .

Did Rite Aid get bought out?

Further negotiations led to a fourth revised deal, in which Walgreens would purchase 1,932 Rite Aid locations for $4.38 billion, which was approved by the FTC on September 19. The revised sale was completed on March 27, 2018 , leaving Rite Aid with roughly 2,600 remaining stores.

Why is Rite Aid rebranding?

In response, Rite Aid executives told investors on Monday that it will completely revamp stores, focusing on a new group of consumers to drive growth and overhauling the merchandise on its shelves to provide a more well-rounded approach to health and wellness.

Rite Aid has $4 billion in debt, $8.6 billion in total liabilities and $7.65 billion in assets, according to court filings in the U.S. Bankruptcy Court for the District of New Jersey. It plans to fund its restructuring with a $3.45 billion bankruptcy loan provided by its existing lenders.

Rite Aid is closing even more stores in 2024. See if yours is on the list. (2024)

The latest list includes 27 stores in Michigan and Ohio, according to filings from the retailer's bankruptcy case. That brings the number of stores put on the chopping block and named in filings this year to 100. Most of those came in February.

Since the drugstore chain filed for Chapter 11 bankruptcy in October, Rite Aid has closed nearly 550 stores, NBC reported, including this latest round.

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A Rite Aid spokesperson did not immediately respond to Business Insider's request for comment on the latest list of proposed closures.

"Rite Aid regularly assesses its retail footprint to ensure we are operating efficiently while meeting the needs of our customers, communities, associates and overall business," a Rite Aid spokesperson told BI in February about the first round of closures this year. "In connection with the court-supervised process, we notified the Court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance."

Rite Aid has been shrinking its base over the past decade. The chain had about 4,600 stores in 2013. It sold about 2,000 of those to rival Walgreens in 2017 after federal regulators blocked Rite Aid's proposed sale to Walgreens.

The company currently says that it has about 1,600 stores — a fraction of the networks that rivals CVS and Walgreens have built.

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Here's the list of Rite Aid store closures for 2024:

California:

Lakewood: 5520 Woodruff Avenue

San Diego: 8694 Lake Murray Boulevard

Needles: 1020 East Broadway Street

North Hollywood: 11350 Victory Boulevard

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Fontana: 9940 Sierra Avenue

Livermore: 968 Murrieta Boulevard

Hemet: 260 North Sanderson Avenue

Westminster: 6767 Westminster Boulevard

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Studio City: 10989 Ventura Boulevard

La Crescenta: 2647 West Foothill Boulevard

Los Angeles: 3230 West Slauson Avenue, 11750 Wilmington Avenue

Tustin: 630 East 1st Street

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Susanville: 1615 Main Street

Redlands: 700 East Redlands Boulevard, Suite A

Moreno Valley: 24991 Alessandro Boulevard

Simi Valley: 1159 East Los Angeles Avenue

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Colton: 2025 East Washington Street

Fresno: 4224 East Shields Avenue

Rancho Cucamonga: 9650 Baseline Road

Fountain Valley: 17904 Magnolia Street

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Connecticut:

Milford: 1360 Boston Post Road

Delaware:

Harrington: 17069 South Dupont Highway

Idaho:

Boise: 10600 Fairview Avenue

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Maryland:

Baltimore: 250 West Chase Street

Cambridge: 798 Sunburst Highway

Massachusetts:

New Bedford: 824 Purchase Street

Revere: 467 Broadway

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Michigan:

Detroit: 4612 Woodward Avenue

Midland: 2006 N. Saginaw Road

Howell: 1002 East Grand River Avenue

Added in June:

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Livonia: 37399 6 Mile Road

Burton: G4033 Fenton Road, 6026 Lapeer Road

Flint: 4519 Richfield Road

Ludington: 936 East Ludington Avenue

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Wyandotte: 1998 Biddle Avenue

Spring Lake: 603 East Savidge Street

Bay City: 3880 Wilder Road

Marlette: 2985 Main Street

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Grosse Pointe Farms: 107 Kercheval Avenue

Milford: 640 North Milford Road

New Hampshire:

Milford: 586 Nashua Street, Unit 8-9

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Franklin: 951 Central Street

New Jersey:

Clementon: 1360 Blackwood Clementon Road

Haddon Township: 249 Cuthbert Boulevard

Newark: 104 12th Avenue

New York:

Brooklyn: 249 7th Avenue, 7812 Flatlands Avenue

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Auburn: 153 Grant Avenue

Hartsdale: 196 East Hartsdale Avenue

Bronx: 901 East Gun Hill Road, 2426-34 Eastchester Road, 1179 East 233rd Street

Elmira: 119 West 2nd Street

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Le Roy: 151 West Main Street

Poughkeepsie: 40 Vassar Road

Buffalo: 2474 Bailey Avenue

Mount Vernon: 47 East Prospect Avenue

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Ohio:

Marion: 1081 Mount Vernon Avenue

Lorain: 2709 Broadway Avenue

Middlefield: 15596 West High Street

Brookpark: 15149 Snow Road

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Maple Heights: 21800 Libby Road

Cleveland: 11702 Lorain Avenue

Warren: 2154 Elm Road NE, 1560 Parkman Road NW

Geneva: 633 South Broadway

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Amherst: 100 South Leavitt Road

Bryan: 1221 West High Street

Added in June:

Ashtabula: 2148 Lake Avenue

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Cleveland: 3402 Clark Avenue

Defiance: 1816 East Second Street

Youngstown: 3527 Canfield Road

Coshocton: 218 Chestnut Street

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Springfield: 1805 South Limestone Street

Oregon: 3362 Navarre Avenue

Toledo: 2434 West Laskey Road

Alliance: 1895 West State Street

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Massillon: 242 Lincoln Way West

Bowling Green: 722-740 South Main Street

Wheelersburg: 8130 Ohio River Road

St. Marys: 1502 Executive Drive

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Tiffin: 530 West Market Street

Oregon:

Portland: 600 NW 10th Avenue

Gresham: 1555 N.E. Division Street

Pennsylvania:

Greencastle: 200 North Antrim Way

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Allentown: 6822 Hamilton Boulevard

Doylestown: 472 N. Main Street

Phoenixville: 200 Kimberton Road

Altoona: 1600 9th Ave. Suite 35

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Harrisburg: 501 South 29th St. Suite A

Sharon: 60 South Water Street

Virginia:

Hayes: 2460 George Washington Memorial

Suffolk: 1517 Holland Road

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Washington:

Everett: 1825 Broadway

Walla Walla: 2028 East Isaacs Avenue

Belfair: 23940 NE State Route 3

Seattle: 1820 N 45th Street

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Do you work at Rite Aid and have a story idea to share? Reach out to this reporter at abitter@businessinsider.com

Rite Aid is closing even more stores in 2024. See if yours is on the list. (2024)

Here's the list of Rite Aid store closures for 2024:

California:

Connecticut:

Delaware:

Idaho:

Maryland:

Massachusetts:

Michigan:

New Hampshire:

New Jersey:

New York:

Ohio:

Oregon:

Pennsylvania:

Virginia:

Washington:

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