An Essential Retailer is Now Closing A Whopping 400 Stores

July 21, 2024

An essential retailer is now closing a whopping 400 stores after it filed for chapter 11 bankruptcy in October of last year.

When Rite Aid filed for Chapter 11 bankruptcy, it said it would close a total of 143 locations.

However, that number has steadily grown with more closures being shared this week bringing the total to more than 520 store closures.

This is equivalent to a quarter of the pharmacy chain’s locations, reports TheStreet.

In addition to its Chapter 11 bankruptcy Rite Aid shared on July 15 that it suffered “an incident that involved certain consumers’ personal information,” the chain shared on its website.

Rite Aid notified customers who were impacted by mailing them letters.

“On June 6, 2024, an unknown third party impersonated a company employee to compromise their business credentials and gain access to certain business systems.

We detected the incident within 12 hours and immediately launched an investigation to terminate the unauthorized access, remediate affected systems, and ascertain if any customer data was impacted.

We also reported the incident to law enforcement, as well as federal and state regulators,” the company shared.

The stolen data included the purchaser’s name, address, date of birth, and driver’s license number or other forms of government-issued ID presented at the time of purchase between June 6, 2017, and July 30, 2018.

Rite Aid did say that no social security numbers, financial information, or patient information were impacted by the incident.

Rite Aid has opened a dedicated phone line for customers who are concerned about the breach.

“Anyone with additional questions may call our dedicated assistance line toll-free at (866) 810-8094 from 8 a.m. to 5:30 p.m. Central Time, Monday – Friday, excluding holidays.

This line will remain open until October 15, 2024,” it added.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

A beloved grocery chain now confirms unexpected closures across the Northeast taking place by the end of the year.

Grocery chain Stop & Shop has announced that a total of 32 underperforming locations will shutter in the U.S.

The company said the select stores across the Northeast will be closed before the end of the year.

Stores in New Jersey, Massachusetts, New York, Connecticut, and Rhode Island will close by November 2.

In May, the company announced the coming store closures.

“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” company president Gordon Reid said, per a July 12 press release.

The company’s president added that the closures were essential “to create a healthy base for the future growth of our brand.”

Fortunately, employees will be offered other positions within the company, according to a press release.

The grocery outlet first opened in 2014 and currently has around 400 stores and 60,000 employees, per Fox affiliate KRLD.

Stop & Shop is owned by Ahold Delhaize which also owns Food Lion, Giant Food, and Hannaford.

Which grocery stores are closing?

In New Jersey, 10 locations will close, while only seven will close in New York.

Rhode Island will see two closures and Massachusetts, the home of the first location, will be closing eight.

Five stores will also be closing in Connecticut.

As other chains such as Walmart and Amazon join the grocery business, it has pushed traditional grocery stores out of view, reports The-Sun.

Stop & Shop hopes the closure of underperforming stores will create “future growth” for the company.

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