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Rite Aid Shutting 117 Stores

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Rite Aid Corp. is planning to shut down as many as 117 stores over the next year as it tries to cut costs after the drugstore operator's loss more than doubled in the fiscal fourth quarter.

The Camp Hill, Pa., company said the closings would be scattered around the country, targeting stores with weak sales and those that are close to another Rite Aid.

Link.

Bankruptcies and Liquidations:

Potential Bankruptcies & Liquidation Impact: 1,362 confirmed closures out of about 2,476 stores

Announced Closings

Total Closings: up to 1,175 U.S. stores

Potential Impact of All Announcements to Date: 2,537 closures out of up to 3,651 potentially affected U.S. stores

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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