An essential retailer now makes an unexpected closure in Ohio after filing for bankruptcy last October due to mounting debt.
More pharmacy locations are closing in Ohio as struggling pharmacy chain Rite Aid announces more store closures will occur in 2024.
Last year, Rite Aid filed for bankruptcy in October after incurring a whopping $3.3 billion in unpaid debt.
And according to financial reports to the U.S. Securities and Exchange Commission (SEC), Rite Aid has lost approximately $3 billion since 2020.
In October, as part of their bankruptcy filing, they announced that a total of 154 locations nationwide would close.
Since that initial filing, Rite Aid has filed several more notices advising additional closures, and the total number of store closures is approaching 500 with 38 of those being in Ohio.
In court filings this month the four locations below have been added to the ever-growing list of closures.
- Toledo – 2450 South Reynolds Rd.
- New Philadelphia- 705 West High Ave
- Sandusky- 334 West Perkins Ave
- Swanton- 105 West Airport Hwy
Which other Rite Aid stores have closed in Ohio?
Below is a list of Rite Aid stores that have closed or are expected to shutter in Ohio this year:
- Canton- 114 12th Street NE
- Lakewood- 16207 Detroit Ave
- Massillon- 2100 Wales Ave
- Amherst, 100 S. Leavitt Road.
- Beachwood, 28600 Chagrin Blvd.
- Bellefontaine, 230 S. Main St.
- Brookpark, 15149 Snow Road.
- Broadview Heights, 8085 Broadview Road.
- Brunswick, 3871 Center Road.
- Bryan, 1221 W. High St.
- Canton, 4332 Cleveland Ave. NW.
- Canton, 3010 Whipple Ave. NW.
- Chardon, 501 Water St.
- Cleveland, 11702 Lorain Ave.
- Dayton, 146 Woodman Dr.
- Dayton, 1158 Wilmington Ave.
- East Liverpool, 614 Bradshaw Ave.
- Euclid, 475 E. 185th St.
- Fairlawn, 2975 W. Market St.
- Geneva, 633 S. Broadway.
- Jefferson, 5 E. Ashtabula St.
- Lorain, 2709 Broadway Ave.
- Maple Heights, 21800 Libby Road.
- Massillon, 3129 Lincoln Way East.
- Middlefield, 15596 W. High St.
- Mount Gilead, 510 W. Marion Road.
- New Carlisle, 120 S. Main St.
- North Canton, 7800 Cleveland Ave. NW.
- North Olmstead, 29000 Lorain Road.
- Springfield, 401 W. North St.
- Sylvania, 5890 Monroe St.
- Toledo, 5033 Suder Ave.
- Toledo, 3911 Secor Road.
- Warren, 2154 Elm Road NE.
- Willowick, 30500 Lakeshore Blvd.
- Willoughby, 36212 Euclid Ave.
- Youngstown, 2701 Market St.
- Youngstown, 2800 Mahoning Ave.
Rite Aid isn’t the only pharmacy chain closing stores.
CVS stated in 2021 they would close 300 stores annually until 2024, while Walgreens will close 150 locations across the United States over the coming months.
This mass reduction could lead to pharmacy deserts impacting communities.
Has your area been affected? Leave your thoughts below.
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.
TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.
This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.
The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.
Today, Fridays will welcome in famished diners at its location in Brick for the final time.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.
“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”
Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.
“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.
“Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise,” said Ray Risley, US president and chief operating officer, in the release.
Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.
The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.
“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.
Also Read: Retirees Will Now Receive More Money For Social Security
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