New York
CNN
—
Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts.
The first tranche of stores to be sold — both leased and owned — is located in twelve states, according to A&G Real Estate Partners, which is advising the drug store chain on its real estate portfolio. The states include California (17 stores), Maryland (4), Michigan (16), New Jersey (8), New York (17), Ohio (4), Oregon (2), Pennsylvania (17), New Hamphire (2) and Washington (10), Alabama (1), Idaho (1).
The writing has been on the wall for some time for Rite Aid, the third-biggest standalone pharmacy chain in the US, as the entire drug store retail sector struggles to compete with Amazon and big-box chains like Walmart, Target and Costco moving deeper into the space and offering more customer-friendly alternatives to the nationwide pharmacy chains.
Compounding its problems were legal troubles stemming from accusations of filing unlawful opioid prescriptions for customers.
Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses.
While it has secured $3.5 billion in financing and debt reduction agreements from lenders to keep the company afloat through its bankruptcy, Rite Aid said it would accelerate store closures and sell off some of its businesses, including prescription benefit provider Elixir Solutions. Bankruptcy could also help resolve the company’s legal disputes at a vastly reduced cost.
As it reevaluates its portfolio of stores, these are the Rite Aid locations that are currently up for sale:
- SEC Alabama Ave. & Pike St. in Monroeville, Alabama
- 920 East Valley Blvd in Alhambra, California
- 571 Bellevue Road in Atwater, California
- 3029 Harbor Blvd. in Costa Mesa, California
- 139 North Grand Ave. in Covina, California
- 20572 Homestead Road in Cupertino, California
- 24829 Del Pradoin Dana Point, California
- 7859 Firestone Blvd. in Downey, California
- 8509 Irvine Center Drive in Irvine, California
- 15800 Imperial Hwy. in La Mirada, California
- 30222 Crown Valley Pkwy. in Laguna Niguel, California
- 4046 South Centinela Ave. in Los Angeles, California
- 499 Alvarado St. in Monterey, California
- 1670 Main St. in Ramona, California
- 1309 Fulton Ave. in Sacramento, California
- 901 Soquel Ave. in Santa Cruz, California
- 19701 Yorba Linda Blvd. in Yorba Linda, California
- 25906 Newport Road in Menifee, California
- 1600 North Main St. in Meridian, Idaho
- 5808 Ritchie Hwy. in Baltimore, Maryland
- 5 Bel Air South Pkwy. in Bel Air, Maryland
- 728 East Pulaski Hwy. in Elkton, Maryland
- 7501 Ritchie Hwy. In Glen Burnie, Maryland
- 35250 South Gratiot Ave. in Clinton Township, Michigan
- 36485 Garfield Road. in Clinton Township, Michigan
- 1900 East 8 Mile Road. in Detroit, Michigan
- 25922 Middlebelt Road. in Farmington Hills, Michigan
- 924 West Main St. in Fremont, Michigan
- 715 South Clinton St. in Grand Ledge, Michigan
- 3100 East Michigan Ave. in Jackson, Michigan
- 15250 24 Mile Road in Macomb, Michigan
- 1243 U.S. 31 South in Manistee, Michigan
- 15181 Telegraph Road in Redford, Michigan
- 320 N Main St. in Redford, Michigan
- 51037 Van Dyke Ave. in Shelby Township, Michigan
- 109 North Whittemore St. in St. Johns, Michigan
- 102 North Centerville Road in Sturgis, Michigan
- 9155 Telegraph Road in Taylor, Michigan
- 47300 Pontiac Trail in Wixom, Michigan
- 205-209 Main St. in Berlin, New Hampshire
- Grove St. and Route 101 in Peterborough, New Hampshire
- 37 Juliustown Road in Browns Mills, New Jersey
- 1426 Mount Ephraim Ave. in Camden, New Jersey
- 1636 Route 38, Suite 49 in Lumberton, New Jersey
- 210 Bridgeton Pike in Mantua, New Jersey
- 108 Swedesboro Road in Mullica Hill, New Jersey
- Route 33 and Robbinsville- Edinburg Road in Robbinsville, New Jersey
- 773 Hamilton St. in Somerset, New Jersey
- 1434 South Black Horse Pike in Williamstown, New Jersey
- 836 Sunrise Hwy. in Bay Shore, New York
- 452 Main St. in Buffalo, New York
- 15 Arnold St. in Buffalo, New York
- 901 Merrick Road in Copiague, New York
- 577 Larkfield Road in East Northport, New York
- 2 Whitney Ave. in Floral Park, New York
- 115-10 Merrick Blvd. in Jamaica, New York
- 2453 Elmwood Ave. in Kenmore, New York
- 3131 Hempstead Turnpike in Levittown, New York
- 700-43 Patchogue-Yaphank in Medford, New York
- 4188 Broadway in New York, New York
- 195 8th Ave. in New York, New York
- 1033 St. Nicholas Ave. in New York, New York
- 593 Old Town Road in Port Jefferson, New York
- 101 Main St. in Sayville, New York
- 65 Route 111 in Smithtown, New York
- 397 Sunrise Hwy. in West Patchogue, New York
- 120 South Main St. in New Carlisle, Ohio
- Euclid & Strathmore in East Cleveland, Ohio
- 1204 Gettysburg Ave. in Dayton, Ohio
- 2323 Broadview Road in Cleveland, Ohio
- 981 Medford Center in Medford, Oregon
- 4346 N.E. Cully Blvd. in Portland, Oregon
- 2722 West 9th St. in Chester, Pennsylvania
- 5990 University Blvd. in Coraopolis, Pennsylvania
- 1709 Liberty Ave. in Erie, Pennsylvania
- 6090 Route 30 in Greensburg, Pennsylvania
- 301 Eisenhower Drive in Hanover, Pennsylvania
- 1730 Wilmington Road in New Castle, Pennsylvania
- 700 Stevenson Blvd. in New Kensington, Pennsylvania
- 350 Main St. in Pennsburg, Pennsylvania
- 5612 North 5th St. in Philadelphia, Pennsylvania
- 2401 East Venango St. in Philadelphia, Pennsylvania
- 3000-02 Reed St. in Philadelphia, Pennsylvania
- 7941 Oxford Ave. in Philadelphia, Pennsylvania
- 136 North 63rd St. in Philadelphia, Pennsylvania
- 10 South Center St. in Pottsville, Pennsylvania
- 351 Brighton Ave. in Rochester, Pennsylvania
- 208 East Central Ave. in Titusville, Pennsylvania
- SR 940 and Main St. in White Haven, Pennsylvania
- 3620 Factoria Blvd SE in Bellevue, Washington
- 11919 NE 8th St in Bellevue, Washington
- 222 Telegraph Road in Bellingham, Washington
- 1195 Boblett St. in Blaine, Washington
- 17125 SE 272nd St. in Covington, Washington
- 10103 Evergreen Way in Everett, Washington
- 2518 196th St SW in Lynnwood, Washington
- 3202 132nd St., S.E. in Mill Creek, Washington
- 601 South Grady Way in Renton, Washington
- 2707 Rainier Ave. in South Seattle, Washington
– CNN’s David Goldman contributed to this story
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