More than 70 Rite Aid Stores Set to Close in Pennsylvania
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Bankrupt Rite Aid on Wednesday received court approval to close stores and sell most of its pharmacy assets in separate transactions to CVS, Walgreens, Albertsons, Kroger and Giant Eagle, among others.
In addition to the 70 stores in Pennsylvania that are slated for closure, Rite Aid also listed six stores in Virginia, five in Oregon, four in California, three in Maryland, and one in Delaware. You can find original article here Supermarketnews.
Rite Aid announced more store closures after reportedly agreeing to sell pharmacy assets from over 1,000 locations. See closures in Delaware.
The Rite Aid located at 1233 SOM Center Road was purchased for $2.4 million on April 4, making it the third largest commercial sale in Cuyahoga County last month. The 14,000-square-foot building is located between Mayfield and Wilson Mills roads, adjacent to the Eastgate Shopping Center.
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Rite Aid has sold the pharmacy operations of more than 1,000 of its U.S. stores to major competitors, including CVS Health Corporation (NYSE:CVS), Walgreens, Albertsons, and Kroger, as part of its ongoing Chapter 11 bankruptcy process.