Rite Aid moves to offload leases at 11 Capital Region stores

ALBANY — Real estate agents for drugstore chain Rite Aid have already started to unload its real estate assets across 15 states — including more than 1,187 leases it has with landlords, as well as the 50 stores it owns outright — just two days after the company announced its bankruptcy reorganization plan .

Rite Aid, which had only emerged from a previous bankruptcy program in September, said Monday it would sell all of its assets and lay off all of its workers nationwide as part of the plan. Much like other pharmacy chains across the country, such as CVS and Walgreens, Rite Aid has been plagued by losses and fierce competition from Walmart and other big-box retailers.

The company leases all of its 11 stores in the Capital Region, which are owned by a variety of landlords, including affiliates of Columbia Development and Nigro Cos. in Albany…

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