A Massive Essential Retailer in California Now Closes More Stores

December 18, 2023

A massive essential retailer in California now closes more stores after filing for Chapter 11 bankruptcy in October of this year.

Rite Aid has now added several more locations to its ever-growing closure list this week.

Rite Aid was founded in 1965 but has been struggling recently,

In October, the company filed for bankruptcy after incurring $ 3.3 billion in unpaid debt.

And according to financial reports to the U.S. Securities and Exchange Commission (SEC), Rite Aid has lost a whopping $3 billion since 2020.

In October, as part of their bankruptcy filing, Rite Aid announced that 154 locations nationwide would close, including thirty-one in California.

However, since the initial filing, Rite Aid has confirmed several more closures.

In a court document filed by Rite Aid this week, the company revealed another twelve store closures, including two more in California.

Below is the full list of Rite Aid closures in California:

1375 Rocking W Drive, Bishop
6007 Clark Rd, Paradise
11230 Donner Pass Rd, Truckee
1020 Al Tahoe Blvd, South Lake Tahoe
1475 41st Ave, Capitola
49060 Road 426 Oakhurst
5747 Kanan Rd, Agoura
1350 North Vasco Rd, Livermore
4980 Freeport Blvd, Sacramento
72-875 Highway 111, Palm Desert
30551 Gateway Place, Rancho Mission Viejo (added this week)
18444 Plummer St, Northridge (added this week)
Dana Point: 24829 Del Prado
Laguna Niguel: 30222 Crown Valley Parkway
Yorba Linda: 19701 Yorba Linda Boulevard
Santa Ana: 1406 West Edinger Avenue
Ventura: 2738 East Thompson Boulevard
Oxnard: 720 North Ventura Road
Cupertino: 20572 Homestead Road
Santa Clara: 2620 El Camino Real
Santa Cruz: 901 Soquel Avenue
Atwater: 571 Bellevue Road
Citrus Heights: 5409 Sunrise Boulevard
Sacramento: 1309 Fulton Avenue
Costa Mesa: 3029 Harbor Boulevard
Ontario: 3000 South Archibald Avenue
La Mirada: 15800 Imperial Highway
Irvine: 8509 Irvine Center Drive
Monterey: 499 Alvarado Street
Los Angeles: 4044 Eagle Rock Boulevard,
Los Angeles: 4046 South Centinela Avenue,
Los Angeles: 959 Crenshaw Boulevard
Downey: 7859 Firestone Boulevard
Long Beach: 4402 Atlantic Avenue
Burbank: 935 North Hollywood Way
Covina: 139 North Grand Avenue
La Puente: 13905 Amar Road
Alhambra: 920 East Valley Boulevard
Oceanside: 3813 Plaza Drive
Ramona: 1670 Main Street
San Diego: 6505 Mission Gorg Road
San Diego: 8985 Mira Mesa Boulevard
Menifee: 25906 Newport Road

Also Read: A US Company Now Declares An Unexpected Bankruptcy

Other Economy News Today

A bank now fails to prevent a retiree from losing all her money after the Memphis, Tennessee, resident fell victim to scammers.

Maureen Rosenblum, 88, is now demanding she be compensated $500,000 by her bank after losing $120,000 to the fraudsters.

She claims her bank failed to prevent the fraudulent charges.

Her son, attorney Jeffrey Rosenblum, claims that his mom’s bank allowed the fraudulent transactions to occur.

According to the suit, Regions Bank approved two large transactions from Maureen in late November of last year.

“She got a message on her laptop,” the attorney reported.

“One of the things she enjoyed doing is getting on Facebook and emailing her friends who moved away from Memphis, and she sees this message, ‘Your computer’s been hacked!’ and she panicked.”

Maureen contacted the fraudsters soon after, ultimately losing her $120,000 in life savings after wiring the money from her financial institution, Regions Bank.

On November 28, Rosenblum worked with his mother to file a lawsuit against the bank, claiming they should have prevented their client from taking out the cash to pay the scammers, reports The-Sun.

They’re asking for at least $500,000 for Regions Bank’s alleged “negligence” in letting the 88-year-old withdraw the considerable funds.

The scammers claimed to be part of Microsoft’s “fraud department,” per the suit.

A man who referred to himself as “Josh” then told Maureen over the phone that she should transfer at least $95,000 to “protected accounts” so her money wouldn’t be stolen from the “hack,” the suit continued.

The fraudster then allegedly gave Maureen the information for an account at Hang Seng Bank in Hong Kong, China, for the money to be wired.

According to the lawsuit, Maureen also claimed Josh told her to inform employees at Regions Bank that the excess funds were for a family emergency when asked.

The first $95,000 wire transfer was approved, per the suit, and Maureen went back only one day later for another transfer of $25,000.

“She was told by this ‘Josh’ fella to go back to the bank the following day and to wire $25,000 more to a man called Shen Ciao Hsin at Standard Charter Bank in Hong Kong and Regions Bank again allowed her to do it,” Rosenblum claimed.

Maureen is now requesting $500,000 in damages from the financial institution along with the $120,000 she lost, the suit states.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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