A NATIONAL pharmacy chain has launched massive sales up to 60% off, and everything must go.
The chain has been hit by several damaging closure waves, and the stores are looking to pack up for good.
Rite Aid has been struggling since its second bankruptcy filing in the space of a year.
Right now, the only Rite Aid in Norwalk, Connecticut is having a huge closing down sale, with literally everything on sale.
Signs posted at the spot earlier this week announced that “everything must go” and that items are “up to 60 [percent] off”.
Another sign posted to the window noted the “entire store” is now on sale.
The Rite Aid is selling off both stock and equoipment used in the store.
The state of Connecticut is one of the many that is being effected by Rite Aid closures.
Last month, Rite Aid closed locations in Cheshire, Danbury and Naugatuck.
At the same time the Norwalk closure was announced, Rite Aid also confirmed the closure of a location in Milford.
This is set for July 30.
On Wednesday, four more Connecticut Rite Aid locations were also announced for closure.
In Brookfield, the pharmacy will be shut down in July and the rest of it will be gone in August.
At a location in Ridgefield, the entire store will be shut down next month.
A Wallingford Rite Aid is losing the pharmacy on the week of July 13 and the front of the store will be gone on August 24.
The fourth and final location in Wolcott will close the pharmacy on July 21 and the rest of the store will be shuttered in August.
BRANDS HARD HIT BY BANKRUPTCIES
Many chains have struggled to adapt to a post-Covid retail landscape, with several companies filing for bankruptcy
JoAnn Fabrics and Crafts announced it would close all 800 stores after filing for bankruptcy twice in a year.
Hooters announced plans to file for Chapter 11 bankruptcy protection in February.
Liberated Brands announced that it would be closing all 122 retail locations for its boardsport fashion brands Quiksilver, Billabong, and Volcom.
Forever 21 shut down its headquarters after filing for bankruptcy and laying off 358 employees.
Macy’s announced major restructuring plans amid mass store closures.
CLOSURE WAVES
Rite Aid has announced several closure waves over the past few weeks.
The closure waves have been hitting since May, beginning on May 5 with 47 locations across nine states in the US.
Then, 68 additional spots were announced on May 9, and then 95 more on May 16.
May 23 was the most damaging day for Rite Aid, taking down 151 spots.
The list now sits at 957 Rite Aid stores set for closure, but there is not yet a timeline for when the stores will close.
Matt Schroeder, Rite Aid’s CEO, told CNN: “While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors.
“As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.”
