Rite Aid is now closing all stores in one Ohio city by the end of the month, leaving the state with only four locations standing.
A major pharmacy chain, Rite Aid, has announced the closure of all its stores in Cleveland, Ohio, by the end of this month.
By year’s end, only four Rite Aid locations will remain in the entire state, according to PBS affiliate WVIZ.
The chain has been struggling financially since last October, and this latest round of closures reflects those ongoing challenges.
Retail reports indicate that many stores are no longer profitable, prompting the decision to shut down by the end of September.
Residents of Cleveland are voicing concerns about the impact of these closures, fearing a “pharmacy desert” that will limit their access to prescriptions and health products.
Local resident Angie Schmitt expressed frustration, noting she relies on walking to her nearby Rite Aid, which is closing.
Without a car, she will now need her husband to drive her to a pharmacy in the suburbs.
Other residents share similar worries about losing convenient access to pharmacy services.
Jeff Williams highlighted that the closure would force him to walk several miles to find another store, while Justin Roman, a former Rite Aid employee, noted that disabled individuals in the area depend heavily on the location.
Many residents were caught off guard by the sudden announcements of the closures.
Diana Gonzalez mentioned she received no prior notice, and Anthony Amparo says he was unaware that his local store was closing.
Rite Aid has been facing significant challenges, including a Chapter 11 bankruptcy filing in October 2023 and ongoing lawsuits related to the opioid crisis.
Recently, a U.S. judge approved a restructuring plan aimed at reducing the company’s debt by $2 billion and preserving thousands of jobs.
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Other Economy News Today
A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.
Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.
The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.
According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.
As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.
Many fans took to social media to express how upset they were with the loss.
“I knew it was coming, sadly,” UltraVada wrote in a post on X, formerly Twitter.
“It was inevitable,” a second person mourned.
“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.
“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”
One person revealed that they had forgotten the rental service had existed.
Some users were not surprised by the announcement.
“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.
“Also kinda remember getting into a feud with them on here.”
One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.
Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.
At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.
The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.
It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.
Also Read: This Massive Mall Retailer Is Now Closing In California
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