Pharmacy chain Rite Aid has exited Chapter 11 with a streamlined footprint of about 1,300 stores, down from 2,100 before its bankruptcy filing nearly a year ago. The Philadelphia-based retailer announced it has completed its restructuring, emerging with a “focused portfolio,” a “more efficient operating model,” and “significantly less debt.” The company has eliminated approximately… Read more »
Five Below is set to take over a 10,000-square-foot space on South Broad Street that was formerly occupied by a Rite Aid drug store. The Philadelphia-based discount retailer received zoning permits on Friday to begin fit-out work on the space at 810 S. Broad St. Rite Aid put the lease at the corner of Broad… Read more »
The pharmacies at several locations are slated to shut down by the month’s end. The closure includes the Rite Aid at 3000 Reed St. in Grays Ferry, which shut its doors on November 2, 2023. Additionally, three more Rite Aid stores in the city are on track to close soon as part of the company’s… Read more »
Philadelphia-headquartered Rite Aid persists in its endeavor to sell off store leases and properties amid Chapter 11 bankruptcy proceedings, expanding its offerings to include seven additional locations in the Philadelphia area, encompassing two stores situated on Broad Street. As of the latest update released on Tuesday, Rite Aid currently lists seven retail leases and six… Read more »
Rite Aid Initiates Sale of Nearly 100 Store Leases and Properties, Including 13 in the Philadelphia Area, Following Its Chapter 11 Bankruptcy Filing. Rite Aid is in the process of selling approximately 100 store leases and properties, including 13 in the Philadelphia region, as a part of its Chapter 11 bankruptcy proceedings. The Rite Aid… Read more »
Several weeks following the initial presentation of a bankruptcy plan by Rite Aid, which included the closure of numerous stores, the Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy protection on Sunday. This development was largely anticipated. Rite Aid, along with its counterparts such as CVS and Walgreens, has confronted shared challenges in recent… Read more »
