Rite Aid, a drugstore chain, is facing bankruptcy due to billions of dollars in debt, opioid-related lawsuits, and underperforming retail sales. The company is restructuring by closing hundreds of stores, including the once-prominent Rite-Aid building at the intersection of Rowan Street and Ramsey Street. The initial leases and properties are available in private sales, pending court-approval, as part of Rite Aid’s financial restructuring process.
Rite Aid has carefully analyzed its store fleet and must weed out and close underperforming stores that are dragging down its bottom line. The company is closing multiple locations after filing for bankruptcy last year. A new Dollar Tree location is expected to open in the former Rite Aid on the corner of Robinwood Road and Union Road in Gastonia in January 2021.
The court documents outline more than 150 underperforming stores that they plan to close, with two Idaho locations appearing on the list. Rite Aid also owns HealthDialog, a population management and analytics company that provides health care coaching and disease management.
A new Dollar Tree location is expected to open in the former Rite Aid on the corner of Robinwood Road and Union Road in Gastonia in January 2021. The parent company, Ascena Retail Group, owns Ann Taylor and Loft, which remain open. Rite Aid also owns HealthDialog, a population management and analytics company that provides health care coaching and disease management.
The property will not be empty long, as it has been sold to new owners who plan to close temporarily to renovate, rebrand, and get their new cafe. James Harkins of HSC, LLC, owns the property and has entered into an agreement of sale with Summit Realty Advisors, LLC/Dallas.
📹 Homeless man builds small house on Hollywood Boulevard
A homeless man has built a solid wooden structure on a Hollywood Boulevard sidewalk. Reaction has been mixed. Subscribe to …
How many Rite Aid stores are there in the US?
Rite Aid, a full-service pharmacy, operates over 1, 700 retail locations across 16 states, employing over 45, 000 people. The company focuses on improving health outcomes by offering convenience solutions, including retail and delivery pharmacy, and services through its subsidiaries, Bartell Drugs and Health Dialog. With nearly 6, 000 pharmacists, Rite Aid guides customers on traditional and alternative medications to improve their overall health.
Bartell Drugs, a regional chain, has been supporting health and wellness needs in Seattle for over 130 years. Health Dialog provides healthcare coaching and disease management services via live online and phone health services.
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.
What is the Rite Aid scandal?
Rite Aid, founded in 1962 as Thrift D Discount Center, faced an accounting scandal in 1999 when it began restating earnings due to accounting irregularities. Six former Rite Aid senior executives were convicted of conspiracy in 2003 for accounting fraud and false filings with the SEC. The company changed its name to Rite Aid Corporation in 1968 and moved its stock to the New York Stock Exchange in 1970.
Rite Aid’s growth was marked by acquisitions like Envision Pharmaceutical Services in 2015 and two merger deals with Walgreens and Albertsons. Former Rite Aid executives admitted to overstating net income between 1997 and 2000.
Who is buying Rite Aid?
Rite Aid, a pharmacy chain, has faced several merger attempts in recent years. In 2015, Walgreens Boots Alliance planned to buy Rite Aid for $17. 2 billion, but abandoned the deal in 2017 due to antitrust concerns. In 2018, Albertsons and Rite Aid announced a $24 billion merger, but both were scrapped. In 2022, Rite Aid partnered with Google Cloud for a multiyear technology partnership to enhance its digital and data capabilities. The company also revamped its brand to compete with CVS Health and Walgreens.
Why did Rite Aid fail?
Rite Aid, a leading pharmacy chain, has experienced a decline in its market share due to rising healthcare costs and stagnant revenue. The company’s debt has accumulated nearly $3 billion in net losses since 2018, limiting its ability to invest in store renovations. The rise of online threats from Amazon and in-store pharmacies at major chains like Walmart and Kroger further undermined Rite Aid’s competitiveness.
Fitch Ratings analyst David Silverman explains that the company’s limited ability to invest in improvements led to its continued decline. However, the pandemic provided Rite Aid with a temporary boost in business through COVID vaccine sales, which in turn boosted sales of other items.
Why does Rite Aid lose money?
Rite Aid is facing financial difficulties due to factors beyond its control, including record inflation, lower insurer payments, higher labor costs, lower demand for COVID vaccines and retail merchandise, higher theft, and the loss of key corporate clients. The chain has long-term leases for no-profit stores, including $80 million a year for closed stores. Rite Aid is relying on bankruptcy to exit these deals. Rumors of bankruptcy have also surfaced after hiring restructuring advisers in late 2022, and suppliers have demanded cash payments upfront instead of waiting for the company to sell their goods.
Who are the largest shareholders of Rite Aid?
Michael N. Regan, Joseph B. Anderson, and Edward A. Mule are the most significant shareholders, with a total value of 563, 078, 590, 536, 411, 560, 323, 517, 247, 540, 311, and 500, 525, 000, respectively.
Did Walgreens buy out Rite Aid?
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.
📹 Abandoned mall in Wisconsin
Those people just made themselves look bad. He’s already in a bad situation. They’re appalled with his resilience and are mad that he’s getting by in a way within his means and not wallowing in self pity. Good for him that he’s not letting people out of touch with humanity mess around with his sense of dignity.
The 2nd news broadcaster could use some compassion. How in the hell is he going to pay taxes, and he’s homeless! He’d be taking power from the City if he stayed in one of those shelters! I’m proud of him! He built all of that with no money and donated materials! He has no running water, and he’s not asking for charity. He’s trying to work odds and end jobs to get his own money!Give him a break!
The lack of compassion and ignorance is astounding. This man served his country. He provides for himself by fixing bikes and scooters. He’s not blocking the walkway. He respectful and polite. There were people who were ok with him being there. Those anchors go to their homes at night blessed with all those things and yes they earn a salary because of news reports such as this. They believe they are paid what they are worth because of their experience, knowledge and skills. Why isn’t that same monetary value placed on our veterans with their knowledge, expertise, experience and skills. There is no monetary value high enough for someone risking their lives for their country and it’s freedoms, something those anchors wouldn’t have if individuals like this gentleman hadn’t served.
This exposure is his elevation. What they desired for evil, to humiliate & take away any remaining dignity he possessed, he showed himself composed & peace and MORE in his right mind than the people who questioned him. Clothes don’t make a man. He is a soul. A spirit. And a body. With the capacity of his being, and the aid of His Creator this man his literally pulling himself up from his boot straps—out of nothing to something. I salute you. My prayers go with you.
Back in 2007, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit. The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder’s plastic still covering the carpets.
He stands straight, kept his language clean. And its amazing that he still had ambition and selfworth that he’s planning to pick himself up instead of expecting assistance from others. He doesnt come off as a bad person. Just a victim of bad situations and consequence.. And why is that woman so condescending to the guy??
4:58 the woman accuses him of stealing electricity when he just said a few sentences earlier that he has his own generator! It baffles me how people can make such a big deal about this beautiful, artistic, well-built construction, rather than dealing with the eyesore trash of other homeless encampments. We really need to designate empty lots to be for anyone willing to put effort into an organized and well-built living place.
Marla is a rude newscaster to say he was milking the city with his generator. I would be amazing if they hired newscasters that didn’t sound like they should be on a bad sitcom. It’s people like you Marla that made me and so many of my fellow crew members to leave the film industry and Los Angeles. You and your Cali Government let this happen to Los Angeles. It’s a terrible thing what you allowed to happen to one of the coolest places to live and visit. It breaks our heart for these people that truly have no where or no one but to let it keep growing year after year and now everyone is addressing it. Sorry to sound like the Holiday Grinch but the media is part of the problem
These two reporters can’t seem to CONTAIN their disdain! Did they forget that this was live TV? Did you see him grimace after insisting it was blocking the sidewalk…unwarranted hate! To call these two heartless would be kind. They tried to remain calm but couldn’t seem to contain their hate. They couldn’t even fake care and compassion. I can only imagine how they really feel about this homeless man. They don’t even know him. I truly believe that people like this aren’t human.
They’re refusing city services because people don’t understand that shelters and public housing treat you like criminals. Theyre so strict in what you can bring, cerfews, etc.. Then there’s theft from other homeless as well. Don’t rely on the government to help you, because they won’t. It’s so sad what this country and big cities have come to. I feel for these people, I was homeless many times and lived in a tent. People need to treat each other with dignity and respect.
The man went from nothing to building a home, surviving, earning money honestly and being a positive influence in the community while still keeping hope, dreams and aspirations and was the only one speaking truth while everyone else in this article just seems to smirk and scoff at him. This is the type of person, if given the opportunity, could go on to do great things but sadly most people will never take him seriously.
The lack of empathy is crazy. He’s obviously not a threat. You can tell he’s a hardworking, goodhearted person. He made a nice looking house out of decent materials and he even put flowers out front. Listen I don’t like the homeless problem either but they’re still humans. We should not target homeless people who are actively trying to improve themselves. He is obviously not a problem. To me he seems like a much better person than that god awful newscaster lady. You can literally see the disgust on her face all because she saw someone she viewed as “lower” than her.
I see a home. This man isn’t homeless. He’s just resourceful. Stop putting him down like you people are better than him. We are all just a set of bad circumstances away from being in the same boat. Difference is this man isn’t putting up with it and just giving up. I am honestly proud as hell of him.
He’s a veteran who built his own house, dosent cause trouble and the outside of the house looks clean. He even has a job aswell. He’s better being there doing his own thing then being in a shelter, not making money, and using tax money. I think he’s doing a good thing and seems like a happy guy. God bless him.
Wow I can’t believe that these reporters are acting this way and that they are so bothered that he’s living this way, why are they so worried about taxes ? He’s literally is living on the streets while they have a nice comfy house. They have better things than he does and yet he’s friendly ! I pray god protects him 🤍🤍
That female news reporter’s ignorance kills me🤣 but she is a city girl who probably never had to struggle or been through natural disasters. This man has a made a way for her to sit pretty on camera in her ignorance! Not once did they thank him for his service or acknowledge how terribly we’ve shown our appreciation for his sacrifices. I’m thankful for the kind people who still exist.
Lowkey you could tell the male reporter was trying to not give the female reporter any ammo with the stealing power from the city line. Dude even covered for him and said “No the generator isn’t taking power from the city”, didn’t even ask the dude cause didn’t want dude to incriminate himself. Big respect to him for not trying to ruin the homeless man’s setup. You can tell that some reporters actively try to get rid of dudes like this while others have a level of respect and consideration for them. I’d rather the dude live in this setup than on a random tent on the street.
This guy is a veteran. He deserves to be housed. He is NOTHING like the awful people who are throwing faeces at the business owner and being a nuisance, high on drugs, exposing themselves, etc. He is very well mannered and willing to work. It says a lot about him that his place is immaculate and he fixes bikes and scooters for a living. He even has the sense to come up with a scheme to avoid the “tent ” clear outs, by making his little home mobile!! He is a prime example of a good person that has been down on his luck, but is not giving up!! He will build himself back up again. Where as the ones that are out of their face all day, lying about, exposed and using the sidewalk as a toilet, needs some mental help and moved on. People will not have sympathy for those who make those around them miserable and make life difficult for business owners.
That is so awesome! He is indoors, he is independent, he has skills. This story tries to pretend like he is causing trouble, but he seems polite, clean, friendly. If he were living in a tent and sleeping on the ground, then they would complain that he was a nuisance. No one is going to hand him what he needs, so he is getting it, he is empowered. He has the kind of freedom that Americans like to say they appreciate. His neighbors like him. He’s a hero.
You got to give him credit. He’s doing his best not to bother anyone, with what he has. You can tell and see that he’s very respectful to others just from the way he speaks, creative and has amazing constructional skills. Someone in the construction industry needs to hire this gentleman cause I believe he can be a great asset to their company. Not only did he build a solid structure from what I see, but the idea of making it easy to move on wheels. I see a great idea for a patent. Good Luck to him, hope someone sees the good in this person and give him the support he needs to better his life.
This shows the difference between our people. The man is trying to make it while their trying to nitpick situations to have him move or throne in jail. I commend the reporter that was on the scene because he knew what they were doing and he refused to play into it. I wish nothing but the best for this young man.
The man served his country! He is pleasant to others….not really bothering anyone. There’s always someone throwing shade! He is resourceful and keeps the area uncluttered. Give him a break! The little house is on wheels and even said he would move it if it becomes a bigger issue. I have to give him credit for his creative side!
I totally understand the coffee shop dude about feeling safer with him there. When I worked as a barista in SF I felt much safer when the homeless regulars were hanging out drinking coffee in the store. They have repeatedly spoken up for me when dealing with rude ass tourists who think it’s okay to treat service workers like shit.
He did a good job. I do feel for the guy. Rent is becoming outrageous. I’m from Sun Valley, Idaho and it’s insane there. There are literal hospital staff staying in campers and tents cause there aren’t any rentals and if there are they’re thousands of dollars. This guy is at least trying. Props to him. His home looks nice for the materials he had. Seems like a level headed guy. That woman reporter is an idiot. Do you not know how generators work lady? What a disrespectful woman.
Well I just wanna say shout out to the reporter for being so respectful of this man and completely ignoring his coworker who is trying to make this guy feel bad about how he lives his life and how he pays his bills. Why is she so concerned about his pockets? Like worry about your own life…. not everyone is happy about paying bills. Again that reporter did his job and was very respectful and just very patient and wanted to hear this man’s story. I feel like the reporter is certainly a good guy based off how he ignored the questions of that lady and just wanted to be a curious person and to understand this guy before he judges him.
I remember years and years ago when I was in college before I had children I was homeless. I was sleeping out of my car staying at friends houses. I couldn’t afford rent but I graduated. This man really isn’t bothering anybody. He’s just living a life like anybody else has and has unfortunate circumstances. He seems like the type of guy that would change his life around and when the opportunity presents itself. I hope he finds what he’s looking for in California. I hope he gets the help that he needs. Veteran or not he still needs a place to live. A lot of people take what they have for granted in this man, it’s doing what most people can’t.
What this homeless man has accomplished is commendable, from a life of uncertainty, fear and low self esteem to creating a solid safer home and enviroment for himself, and you can see the pride and sense of acievement he radiates. He is definately better of here than in the cities temporary housing. Thank you for sharing this, respect from the UK:goodvibes::yougotthis:👍
I really hope someone does something for this man. He’s making an effort, he’s clean, he’s…as stable as a man like him could be, at the minimum. Also considering he’s a vet, he deserves the benefits that all vets are entitled to. If there were some kind of charity or means to support him, I’d help out.
I live right down the street from this guy and it’s sooo much better than all the tents that were at that corner. The tents completely blocked the sidewalk and there were hoarders and sketchy people that would come in our yard and steal stuff. But, this guy is chill and makes his tiny house look nice. He bothers no one, and is just trying to make the best out of his situation. Hollywood is actually full of caring compassionate people that are just pursuing dreams. Unlike these news anchors, and everyday neighbors would take food to the tent people before the fire burned them down.
That man LITERALLY built himself a shelter from the bottom up and thought enough to protect himself from the elements. AND DID THAT HEFFA SAY SOMETHING ABOUT A DAMN LIGHT BILL!?!? SERIOUSLY!?!?! I’m pissed that he’s a vet and has to even deal with this!!! She’s thinkin about the wrong thing!!! I commend him and Thank him for his services to the country that now sees him as just a nobody!! People hit hard or bad times…. Doesn’t mean they’re bad people!! 🎉🎉🎉🎉
This man is a great example of resilience! He did not give up the fight, gave the most honest “elevator speech of his skills set” and allowed his personality to shine brighter than any negativity that was being thrown on him. No one knows why and how he ended up in that situation, but, he’s made the best of it. My heart breaks for him, but, I’m happy to know that he has a heart of gold, that no amount of money will ever buy. Whether he is homeless or not, he is an inspiration! That man is truly Amazing…the ingenuity is top-notch! Because of this reproachful “news” coverage and the casts’ callous display of judgment, I pray that God sends this man the help he needs to get off the “oh so coveted Hollywood Blvd” and really puts his craftsmanship on display in one of these well paying mechanical engineering jobs!
Love how phil has enough respect and dignity to not confront him about the generator issue. The anchors are full of crap. This is what happens as you move uo the chain. You forget how hard life is at the bottom, or never experienced it. Yeah, he’s not in the right. hopefully he finds the help he needs, man.
I applaud this brother. He has a sense of pride for the work he’s put into his home and people want to take it away discredit him and leave him with nothing. The news crew should be ashamed of the image they tried to enforce. And I’m praying for this brother who is not looking for a handout. It’s no different than the others living there nomadic lifestyle.
The problem with the USA, is that there is no housing for the poor, not everyone can rent or pay a mortgage. In other countries there’s housing for the poor. A room is rented on the rooftop or small apartments are rented at a low price but here in USA THE RED TAPE THE REGULATIONS THE TAXES AND JUST GREED DOESN’T ALLOW FOR POOR LIVING IN A DECENT CITY OR TOWN.
Power to the people. It’s a sound structure and isn’t an eye sore. He isn’t bothering anyone and doesn’t seem to be a threat to himself or others. He said that he will be moving along soon . So whats the problem? They are the reason for their problems. Vote the politicians out. Pres. Reagan once said ”Government is not the solution, Their the problem”
He’s just making the best of a tough situation and using his skills to survive. The real problem is he is homeless to begin with after serving this country. I hope he can get back on his feet with a permanent home and profession. I appreciate Phil’s genuine respect and nonjudgmental demeanor towards the young man Q. His coworkers seemed very negative and rude. God bless you Brother Q ❤
This man is a legend- he has obviously been through it but is still pushing on in the best way he knows how. He was so positive during this interview. The interviewers, however, scream entitlement. Lady, you don’t know what a generator is? What gold flipping rock have you been living under? Not that we in Canada expect anything less from Fox News. Do better.
This man may live on the side of a street in LA, but the fact that he took initiative to even build what I consider an amazing house for a sidewalk is a true statement and testament as to how bad homelessness has gotten in LA & California. Californian politicians are what have basically made this normal in California.
I live in Washington DC and I worked for a non profit who tried to help the homeless. I met a lady who went to the library and studied and built her own home out of wood and it was very functional. Unfortunately they made her take it down. It was in a grassy area next to a parking lot and most others were in tents under bridges. The homeless situation does not have an easy answer.
“does he have to pay property taxes?” “he doesn’t get a power bill” he’s fucking homeless and doing his best to survive have an ounce of compassion jesus christ. everyone wants to assume that the help they’re offered is actual help go experience those resources for yourself and come back and talk about how much “help” it actually is. everyone wants to say “help the homeless” to look good for their friends until those people find better ways to survive on the streets and then you start picking apart all the issues you have with them. it’s disgusting how many people are only interested in helping others when it looks good for them or earns them brownie points with their friends and community. the cost of living here is outrageously high while many jobs still pay minimum wage IF you even get hired because you can apply to 50 jobs and not hear back from one because a lot of companies only say they’re hiring to have back up options for when someone on their team quits. major props to this guy for being resourceful and respectful and doing his best to stay alive and make a living
I remember when I were homeless, I builted a plywood shelter on the grid in the urban city of D.C. housing is a human right. I admire him for being self sufficient, its nothing wrong with building a safe and secure shelter to keep him out the elements. I like his little tinyhouse on the grid. Keep up the good work. I feel people should leave him alone, but help him instead.
Holly cow that female reporter was clueless. First the on scene reporter says he has a generator, then ignores her insane question of if he’s stealing power from the city, because he has a generator? Does she even know what a generator is? And then asks like 4 times because the on scene reporter is clearly ignoring the dumb question.
I give him a million thumbs up. He did something about his situation. It beats the hell out of being in the elements and just lying there and doing nothing for yourself. It does something to the spirit when you can’t help ones self. I’m more than happy for him. Help people to get on their feet or leave them the hell alone.
The guy saying “idk why but I actually feel safe with him here in front of me and this business, he’s just minding his own business” made me emotional. I love how he added plants. He seems like a genuine person. He’s not stealing power he’s using his own generator… The reporter sounds like a Karen “Is HE sTeaLInG from THe cITy” these are all his belongings.. it’s honestly sad… He’s just trying to stay alive. He wants to work… He seems intelligent. I’m praying this man gets what he needs. 🙏🕯️
It’s a beautiful home with nice flowers. The best thing I’ve seen a homeless person create. I hope he gets to keep his place and move somewhere better for himself and start his business. It’s good that he’s not passed out on the sidewalk and on substances and that he works and repairs stuff for people.❤️ Those two judgy news anchors had such superior attitudes especially that woman… rolling her eyes at the end.😞🙄
He found a way to get around the system and provide a safe home for himself. The sidewalk is still passable, plenty of walking space on the sidewalk in front of his home. For those worried about the power tools – he can add a shed. For those worried about property taxes, he takes up no more room than a small vendor cart and I think a similar fee or license would be sufficient to quell those concerns. He found a way, don’t be mad, be inspired!
I hope things work out for the best for this man! Much respect to him. He’s literally living his life the best he can!! The woman reporter was absolutely HORRIBLE during the interview. Asking about him stealing power from the city and all. Then the news crew calls the police themselves on the guy and then continue to ask him to do a interview. Wtf. You people are horrible.
Very unfortunate situation for him. His life is vastly different from the majority of homeless stories in LA that I’ve seen. He doesn’t seem like he wants to be on the streets, he’s not doing drugs. It sounds like life got out of hand for him, which I wouldn’t be too surprised due to the housing market in LA. He sounds like a good dude.
He literally escaped the matrix Leave him alone He’s not bothering anyone he’s not asking for money he’s using his money he works He just doesn’t want to be like us slaving away for a $2000 a month 1 bedroom apartment driving our $900 a month vehicle and other expenses to only bearly make it through with only $100-200 left for the whole month That’s something to be proud of bro Keep it going
Damn! Karen was sooooo bothered by this man! She probably made a few calls on him afterwards. God bless his journey. Not mad at this guy at all. Of course it’s not acceptable or proper but high ass living cost is! No matter what class your in, the world makes millions off of us everyday! This man is rent free in his head…I definitely get it. Not sure how long it’s gonna work out for him but more power to him!
While the reporters enjoy the benefits of Q’s service they caused him harm, calling the police and making belittling remarks. So heartening that all the comments on here are heart filled and supportive of Q, there’s nothing to criticize as we usually want to dismiss homeless persons as addicts and forget that the real problem is limited or no access to decent and safe affordable housing. Q, you are a true hero.