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Posted on 05/06/2025 4:36:00 AM PDT by george76
As pharmacy deserts crop up across western Washington, a large chain is biting the dust.
Rite Aid CEO Matthew Schroeder briefed employees Monday that all stores would either close or be sold as the company files for bankruptcy,..
The media outlet stated funding from investors fell short, and the company faced a series of economic issues, including tariffs, more expensive supply costs, pricier landlords, and what Schroeder called a “dramatic downturn in the economy.”
According to the court filing, as posted on Kroll, to support Rite Aid during bankruptcy, the company secured commitments from lenders to access nearly $2 billion to carry out operations, including employee wages and welfare benefits. In the meantime, customers will still have access to pharmacy services as the company works to transfer prescriptions to other pharmacies.
...
the second bankruptcy filing for Rite Aid in less than three years,
...
As Rite Aid falls, so does Bartell Drugs
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Can’t say I’ve ever been in a Rite Aids.
“...the company faced a series of economic issues, including tariffs, more expensive supply costs, pricier landlords, and what Schroeder called a “dramatic downturn in the economy.””
The tariff excuse is the giveaway. He is shifting blame for poor management.
They’ve been on the struggle bus for years now. After last years Chapter 11 I thought they might turn it around. Or at least buy more time.
Rite Aid stores used to be common in Ohio.
Rite Aid lockdown: SoCal store puts almost everything behind locked glass..
https://freerepublic.com/focus/f-news/4266263/posts
And in Michigan. All of our stores closed last year.
The one near us closed years ago. Even the CVS vs Walgreens competition seems to have lost enthusiasm.
They need to bring back soda jerks and root beer floats.
Every sick company is blaming the economy and tariffs now.
I will miss my local Rite Aid. The stuff they sold up front was overpriced. But they always had knowledgeable and cheerful pharmacists who were happy to answer questions.
I wonder how much was lost due to looting in ‘vibrant’ areas?
Barrels shelves were empty yesterday.
Have they tried raising prices again? Or is there some suspicion that the tactic might be partially responsible for the virtual force field around their stores? The one that repels customers so effectively.
And those who manage to get past the entrance have to deal with rude staff who amble over to the register after you stand there several minutes.
Here in central PA, all the Rite-Aid stores are on the don’t-go-to list.
They were common here in my neck of the woods. I’ve used them for decades.
About 10 years ago Walgreens moved into the area and one of Walgreens stated goals was to take out Right Aid. It appears that they are successful. However Walgreens still doesn’t have the footprint Right Aid had.
Right Aid’s service has really floundered since their first bankruptcy. Barren shelves, long wait times for prescriptions. Several days ago they posted a sign declaring that they would not be able to fill any GLP-1 requests. I thought that was a bad sign of coming things.
Now, I’m not sure where I will transfer my prescriptions to, we have a very limited set of choices. One other thing not mentioned and this situation affects every one of the pharmacies, unabated shoplifting. The urban areas are going to be most affected. I’ve already heard the term “pharmacy deserts” used and Right Aid just announced yesterday.
That's a great idea! They could put it in front of the pharmacy on Senior Tuesday. Although the soda fountain counter would need to be wheelchair height.
> One other thing not mentioned and this situation affects every one of the pharmacies, unabated shoplifting. <
I will miss my local Right Aid (post #11). It’s not in an urban area. Nevertheless, you make a very good point. About a year ago I asked the manager about shoplifting - I’m the nosy type.
He said he catches on average one shoplifter per day, and can only guess how many he misses. Part of the problem is the store is near a diverse high school. Groups come in for shopping, but not necessarily for buying.
🙁
But don’t let in any of those damned rock and roll hippies with their long hair and poodle skirts and jalopies and power flowers.
Drug Stores are all retail outlets that also sell drugs.
Rite Aid can’t compete as a retail vendor so the drug store fails
Walmart and grocery stores are retail outlets that also sell drugs and make unbeatable competition.
This is a shame. I always liked that store.
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