Rite Aid is bidding farewell to its home state of Pennsylvania. According to the company’s website, the Grindstone location in Fayette County closed on Aug. 22, marking the end of the pharmacy chain’s presence in the state.
Despite the Rite Aid website listing four Pennsylvania locations-Belle Vernon, Berwick, Coudersport, and Pittsburgh-as open as of Sept. 5, WVIA reported that none of these stores were actually closed.
This development follows the pharmacy giant filing for Chapter 11 bankruptcy protection in May, during which it announced plans to sell its prescriptions, pharmacy, and front-end inventory. The chain initially filed for bankruptcy in October 2023.
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Founded in Scranton, Pennsylvania, in 1962, Rite Aid first opened its doors as Thrif D Discount Center before rebranding to Rite Aid in 1968. By the 1980s, it had grown into the third-largest retail drugstore chain in the country, according to its website.
Why is Rite Aid closing?
Rite Aid has been grappling with financial difficulties for several years. One of the challenges was the geographical distribution of its stores, which were primarily located on the East and West coasts, with very few in the central regions…