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The chain sought government aid to stay afloat for some of 2020 but filed for Chapter 11 bankruptcy, citing "significant financial distress" caused by both COVID-19 and customers' changing buying ...
Eckerd Corporation – acquired by CVS Pharmacy in the South and Rite Aid in the Northeast–Mid atlantic Region; Fantle's; Farmacias El Amal – San Juan, Puerto Rico, firm; 20 locations bought by Walgreens in 2008; remaining closed in 2011; Fay's Drug; G. O. Guy – acquired by Thrifty PayLess; Genovese Drug Stores; Gray Drug – purchased by ...
CVS is closing 900 stores. Rite-Aid is closing 500. Walgreens announced Tuesday it plans to close 1,200 stores, meaning 1 in 7 will disappear.
In late 2023, Rite Aid announced the closure of 53 more locations. [251] Going into 2024, Rite Aid announced that it would close an additional 77 locations. [252] 53 more stores were added to the closing list in April 2024. [253] Additional closures continued, nearly fully eradicating the pharmacy's presence in Michigan and Ohio. [254]
Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses and its stock is down more than 90% for the year.
Rite Aid shares fell over 75% between September 2007 and September 2008, closing at a low of $0.98 on September 11, 2008, and subsequently dropping to $0.20 on March 6, 2009. [ 32 ] Similar to what CVS experienced in the Chicago metropolitan area after its purchase of Albertsons drug store chains, the deal gave Rite Aid stores that were too ...
Rite Aid Corp. (RAD), the third-largest drug store chain whose former CEO Martin L. Gross went to jail after admitting in 2003 he cooked the books, continues to struggle. Earlier this year, Rite ...
Rite Aid has been closing stores across the nation since filing for bankruptcy. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in ...