A massive retailer now closes several stores in Ohio after the company filed for an unexpected bankruptcy in October.
“Rite Aid operates over 2,330 stores in 17 U.S. states, but this number is rapidly declining and will soon drop below 2000,” reports Ash Jurberg.
Rite Aid was founded in 1965 but has struggled recently and last month filed for bankruptcy after incurring $ 3.3 billion in unpaid debt.
On November 2, Rite Aid filed a new court document wishing to increase the number of store closures across the United States to 179.
“Rite Aid has served customers and communities across our country for more than 60 years, and the important actions we are taking today will enable us to move ahead as a stronger company,” said Jeffrey Stein, Chief Executive Officer and Chief Restructuring Officer of Rite Aid.
“With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives, and accelerating the execution of our turnaround strategy.
In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on – now and into the future.”
Below is a list of Rite Aid stores closing in Ohio:
- Massillon: 3129 Lincoln Way East
- New Carlisle: 120 South Main Street
- Dayton: 146 Woodman Drive
- Youngstown: 2701 Market Street
- Springfield: 401 West North Street
- Bellefontaine: 230 South Main Street
- Toledo: 3911 Secor Rd
- Sylvania: 5890 Monroe St
- Youngstown. 2800 Mahoning Ave
- Mt Gilead. 510 West Marion Rd
- Willowick. 30500 Lakeshore Blvd
The-Sun reports that some customers are experiencing delays in receiving their medications.
Other pharmacies are experiencing challenges.
CVS stated in 2021 they would close 300 stores annually until 2024.
Walgreens will close 150 locations across the United States over the coming months.
Other Economy News Today
Massive California banks are now closing soon according to fresh data from the Office of the Comptroller of the Currency.
The latest list of banks closing in California were released on Thursday by the OCC.
This week, another four bank branches in California have closed, with five more branches added to the growing closure list.
The banks closing in California soon are as follows:
- US Bank. 1309 North Chester Ave, Bakersfield (a new addition to the list)
- Wells Fargo. 5377 West Centinela Ave, Los Angeles (a new addition to the list)
- Wells Fargo. 535 South Myrtle Ave, Monrovia (a new addition to the list)
- Wells Fargo. 1705 N First St, San Jose (a new addition to the list)
- Wells Fargo. 3550 Wilshire Blvd, Los Angeles (a new addition to the list)
- Bank of America. 90 Pier Ave, Hermosa Beach
- Bank of America.300 Lakeside Dr, Oakland
- JP Morgan. 25882 MC Bbean Pkwy, Valencia
- Bank of America. 29687 The Old Rd, Castaic
- JP Morgan. 140 West Anaheim St, Wilmington
- Wells Fargo. 303 2nd St, San Francisco
- Wells Fargo. Hores Parkway, Redwood City
- Wells Fargo. 305 W. Sepulveda Blvd, Torrance
- Wells Fargo. 7950 West Sunset Blvd, Los Angeles
- BMO Bank. 6055 East Washington Blvd, City of Commerce
The banks that closed in California this week are:
- JP Morgan. 14111 Riverside Dr, Sherman Oaks
- JP Morgan. 707 Broadway, Ste 100, San Diego
- JP Morgan. 1720 Fulton St, San Francisco
- JP Morgan. 12555 Valley View Sy, Garden Grove
“Across California, 282 bank branches have closed this year, the second-highest number this century, aside from 2020,” reports Ash Jurberg.
“We are concerned about the closures, especially in communities of color and lower-income communities because of how that affects lending,” says Paulina Gonzalez-Brito, CEO of Rise Economy.
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