A massive essential retailer now confirms closures in Ohio after announcing several closures nationwide, sources report.
Rite Aid announced four more closing locations after the company shuttered over 200 amid a bankruptcy filing.
The most recent store closures are part of a larger round of shut downs across multiple states, per The-Sun.
Rite Aid announced that 12 closures would happen in Michigan and 15 in Ohio.
Five Ohio locations have been revealed, reports local NBC affiliate WFMJ.
Stores in Cortland, Hubbard, East Palestine, and Girard will close in the coming weeks.
The exact addresses are:
- 713 North State Street in Girard
- 147 West Liberty Street in Hubbard
- 25 West Main Street in East Palestine
- 569 High Street in Cortland
Earlier this week, Rite Aid announced that a Youngstown, Ohio store would close. The store is located at 4914 Youngstown-Poland Road.
In addition to these stores, locations have also closed in Pennsylvania, California, New Jersey, New York, and Virginia.
Over the last two decades, Rite Aid went from having 5,000 locations to about 1,700 today.
Rite Aid filed for Chapter 11 bankruptcy in August 2023 and announced additional closures.
Since November 2023, the number of reported closures has exceeded 200 stores alone, according to Supermarket News.
The company had previously said closures were part of reassessing its “retail footprint.”
Rival Walgreens is facing similar issues, as the company announced that as many as 25% of all stores could close.
Of the 8,600 stores, only 19 have been identified as closing so far:
- 606 Walnut St, Des Moines, IA 50309
- 124 E Main St, Newark, DE 19711
- 3301 Lancaster Pike, Wilmington, DE 19805
- 4201 Concord Pike, Wilmington, DE 19803
- 32979 Coastal Hwy, Bethany Beach, DE 19930
- 842 E Main St, Danville, IL 61832
- 210 E Barnett Rd, Medford, OR 97501
- 1900 Maryland Ave, Wilmington, DE 19805
- 5602 Pacific Ave, Tacoma, WA 98408
- 1805 N Brady St, Davenport, IA 52803
- 4220 Missouri Flat Rd, Placerville, CA 95667
- 840 El Camino Ave, Sacramento, CA 95815
- 1400 N Grand Blvd, St. Louis, MO 63106
- 14048 Woodward Ave, Highland Park, MI
- 25 Peachtree St, Atlanta, GA 30303
- 4121 Hoover Ave, Dayton, OH 45402
- 6199 Sunrise Blvd, Citrus Heights, CA 95610
- 78 Main St, Westfield, MA 01085
- 918 Riverview Dr, Kalamazoo, MI 49048
Walgreens has said the closures are part of a broader optimization strategy expected to unfold over several years.
“We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins,” said CEO Time Wentworth.
He revealed that about one-fourth of stores are not contributing to the company’s long-term strategy.
“We’re finalizing an optimization program that we expect will include closing a significant portion of these locations over the next three years,” he continued.
“We are also taking a series of actions and making investments to enhance the customer and patient experience.”
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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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