Which Rite Aid Locations Are Closing In The State Of New York?

Rite Aid, a pharmacy chain that filed for Chapter 11 bankruptcy protection, is expected to close at least 26 stores in New York state this year. The closures are part of ongoing restructuring measures from Rite Aid’s bankruptcy filing last October. The chain has 2,253 stores as of September 3, and the U.S. Bankruptcy Court in New Jersey also approved the closures.

Rite Aid will soon close an additional 31 stores across a dozen states, bringing the total number of recently shuttered pharmacy to 20. The original list includes 20 stores in the state that have either recently closed or will soon, including several in Brooklyn, Long Island, and other locations.

In 2024, Rite Aid is adding 53 more locations to the chopping block after filing Chapter 11 bankruptcy in mid-October of 2023. 13 of those stores are in New York City. In 2024, they expect to shut down 154 stores.

The state of New York asked a New Jersey bankruptcy judge Wednesday to keep two Rite Aid stores in Buffalo and Poughkeepsie, New York, out of the list of stores. Rite Aid plans to exit from bankruptcy soon, funded by $2.55 billion in financing provided by its lenders. The chain has already closed over 800 stores nationally, with 60 locations in New York.

What is the Rite Aid scandal?

The US government has filed a complaint alleging that Rite Aid knowingly dispensed at least hundreds of thousands of unlawful prescriptions for controlled substances from May 2014 to June 2019. These prescriptions included the dangerous “trinity” combination of drugs, excessive quantities of opioids, and prescriptions issued by prescribers identified as suspicious. The government claims that Rite Aid filled these prescriptions despite clear “red flags” that indicated the prescriptions were unlawful.

Rite Aid also allegedly ignored substantial evidence of its stores dispensing unlawful prescriptions and intentionally deleted internal notes about suspicious prescribers. The government alleges that Rite Aid violated the CSA and the Federal Food and Drug Administration (FDA) by knowingly dispensing unlawful prescriptions for controlled substances. The complaint names Rite Aid Corporation, Rite Aid Hdqtrs Corp., Rite Aid of Connecticut Inc., Rite Aid of Delaware Inc., Rite Aid of Maryland, Rite Aid of Michigan, Rite Aid of New Hampshire, Rite Aid of New Jersey, Rite Aid of Ohio, Rite Aid of Pennsylvania, and Rite Aid of Virginia as defendants.

The Department of Health and Human Services Office of Inspector General (HHS-OIG) is entering into a Corporate Integrity Agreement with Rite Aid, which includes a prescription drug claims review to have an Independent Review Organization determine whether prescription drugs are properly prescribed, dispensed, and billed.

Is Rite Aid closing stores in New York?

Rite Aid will close 59 stores in New York, accounting for 8. 4% of the 699 closures announced. The pharmacy chain filed for Chapter 11 bankruptcy in October to reduce debt. U. S. Bankruptcy Judge Michael Kaplan approved the plan, allowing Rite Aid to cut $2 billion in debt and transfer control to lenders. The company plans to exit bankruptcy soon, funded by $2. 55 billion in lenders’ financing.

What state has the most Rite Aid?

As of September 15, 2024, there are 1, 552 Rite Aid pharmacies in the United States, with Pennsylvania having the most locations at 352 pharmacies, accounting for 23 of all the pharmacies. To download a list of Rite Aid pharmacies in the US into Excel, you can use the data store. Pennsylvania has one pharmacy for every 36, 369 people, making it the most populous state with a Rite Aid pharmacy.

What went wrong at Rite Aid?

Rite Aid, the third-largest drugstore chain in the United States, has encountered considerable difficulties as a consequence of prolonged mismanagement and misguided decision-making. The company’s decision to file for bankruptcy in October was precipitated by the accumulation of liabilities associated with lawsuits pertaining to the distribution of opioids and the prevailing challenges within the retail pharmacy sector. In an article published by The Wall Street Journal, the company’s unfortunate history was detailed, with particular emphasis placed on the significant losses incurred over an extended period of time.

Who bought out Rite Aid?

Walgreens Boots Alliance is set to acquire Rite Aid for $17. 2 billion in an all-cash transaction. Rite Aid, founded in 1962, was initially Thrift D Discount Center. The company changed its name to Rite Aid Corporation in 1968 before its IPO on the American Stock Exchange (AMEX). In 1970, its stock moved to the New York Stock Exchange (NYSE). Rite Aid has faced growth, scandals, and deals with Walgreens and Albertsons. In 2015, it acquired Envision Pharmaceutical Services for $2 billion. Former Rite Aid executives admitted to overstating net income between 1997 and 2000.

Is Rite Aid East Meadow closing?

Rite Aid plans to close 53 more drugstores, including four on Long Island, according to bankruptcy court filings. The retailer has closed hundreds of stores across the country since filing for Chapter 11 bankruptcy protection in October. Since last week, the retailer has added 53 more planned store closings in New York, California, Michigan, and five other states. The pharmacy will close on April 22 and the rest on May 17.

How many Rite Aid stores are there in New York?

A total of 181 Rite Aid stores are located within the state of New York.

Is Rite Aid in Amherst closing?

Rite Aid is set to close its stores in Amherst and Lockport, with the pharmacy set to close on April 15 and the front-end closing on May 21. The company is also considering selling its stores in Tonawanda, Buffalo, and Kenmore, as well as its land and freestanding store. The closures are part of a wider trend of Rite Aid stores closing in the area, with signs indicating that the stores are on sale.

How many Walgreens stores are closing in the US?

Walgreens has announced plans to close approximately 2, 150 stores across the United States by 2027. These stores have been identified as “underperforming” due to factors such as high crime rates and low profitability. It is estimated that approximately 600 of these stores will close within the next three years.

Did Walgreens buy out all Rite Aid’s?

In 2015, Walgreens attempted to buy Rite Aid for $17. 2 billion, but the deal fell through due to the Federal Trade Commission’s refusal to approve it. In June 2017, Walgreens canceled the merger and bought 42 of Rite Aid’s stores for $4. 38 billion. A recent lawsuit accuses Walgreens Boots Alliance of downplaying antitrust regulator scrutiny, with the settlement still requiring approval from a federal judge in Pennsylvania.

Why is Rite Aid empty?

Rite Aid, a US drugstore chain, filed for bankruptcy last year due to opioid-related lawsuits, slowing sales, and mounting debt. The company received approval from a bankruptcy court judge to restructure its business, allowing creditors to control it. Rite Aid has closed hundreds of stores to improve operations, with personal hygiene aisles nearly cleared out and household cleaning supplies scarce. The food aisles are hit or miss depending on the type of snack being sought.