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Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [1] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with roughly 1,250 stores in 15 U.S. states, primarily on the East and West coasts.
The union (now known as the United Food and Commercial Workers) still represents employees in the Rite Aid "Lane’s" stores. [24] [25] In 1983, Lane Drug leased 100,000 square feet (9,300 m 2) in a facility owned by Willis Day Properties at 5225 Telegraph Road in North Toledo, to store bulk products for distribution to its stores. On July 7 ...
In June 2007, a 109-year-old retail legacy came to an end. Rite-Aid Corporation completed its acquisition of Eckerd Pharmacy by purchasing Jean Coutu USA for $2.3 billion in cash plus $1 billion ...
Gray Drug was an American drugstore chain in Cleveland, Ohio.The chain began in 1912 [2] and grew to 46 stores by 1946 and over 100 by the 1970s. [3] [4] Besides Ohio, stores later opened in Florida and Maryland. [5]
Rite Aid's bankruptcy plan, revised on Thursday, would cut $2 billion in debt and provide $47.5 million to junior creditors, including individuals and local governments who have sued the company ...
[2] [4] Rite Aid's initial public offering at $25 a share on the New York Stock Exchange earned the Grass family $8.75 million. [2] [4] Rite Aid purchased a rival chain, the Daw Drug Company, which was based in Rochester, New York, in 1969, which doubled the company's size and gave Rite Aid a pharmacy business for the first time. [4] By the ...