A massive retailer in California now closes several additional stores after declaring Chapter 11 bankruptcy in October.
Rite Aid has added new store closures to its roster bringing the total number of locations shuttering in the Golden State to 41.
In October, as part of their bankruptcy filing, Rite Aid announced that 154 locations nationwide would close, including thirty-one in California.
However, the number of store closures has now risen.
Rite Aid was founded in 1965 but has struggled recently.
The company filed for Chapter 11 bankruptcy after incurring a whopping $3.3 billion in unpaid debt.
According to financial reports to the U.S. Securities and Exchange Commission (SEC), Rite Aid has lost approximately $3 billion since 2020.
“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,” says Jeffrey Stein, Chief Executive Office 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.”
So far, the total number of Rite Aid store closures has passed 230, including forty-one in California.
Below is a list of Rite Aid stores closing in California.
Also Read: Massive Layoffs in California Now Underway Prior to Holidays
Which Rite Aid Stores Are Closing in California?
Below is the latest and most up-to-date list of Rite Aid stores closing in California:
- 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
- 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
Also Read: A US Company Now Declares An Unexpected Bankruptcy
Other Economy News Today
DeSantis has now announced new massive layoffs in Florida, part of a budget plan that will last between 2024 and 2025.
Despite a multi-billion-dollar budget surplus, Florida Governor Ron DeSantis has vowed to cut more than 1,000 state government positions.
The Governor released the following statement:
“We are also going to be reducing the size of government by eliminating over 1,000 positions throughout the state government.
That’s going to help us realign resources to focus on efficiency.”
According to the plan, there would be 407 jobs axed from the Florida Department of Corrections (FDC).
The Florida Department of Health (FDOH) would also lose approximately 358 positions.
And the Florida Department of Transportation would lose at the very least 100 jobs.
The budget was slammed by Florida Democrats.
“The irony of Ron’s ‘Focus on Florida’ budget is his complete inability to actually focus on Florida,” says Florida Democratic Party Chair Nikki Fried.
“He spent more time ranting about the State of California today than proposing positive solutions for Florida — at times, his speech felt like the deleted scenes from last week’s debate.”
The budget will be negotiated during the 2024 legislative session, which will start on Tuesday, January 9, 2024.
Once and if approved, it will take effect sometime in starting in July.
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Also Read: Massive Layoffs in Florida Deepen According to New Data
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