Franchise News

Rite Aid Bankruptcy Triggers Another Store Closure, NY Officials Push Back

| By

Officials in New York are working hard to keep a Rite Aid store open in Buffalo. They're worried that if this store closes, it will be tough for people in the area to find a pharmacy.

This concern comes after Rite Aid, a big pharmacy chain, said it would go bankrupt and close many of its stores nationwide. This announcement was made late last year.

Buffalo Pharmacy Closure Raises Concerns

The Rite Aid store at the corner of Bailey and East Delavan in Buffalo is on the list to be shut down as part of Rite Aid's plan to close twelve stores across New York State this year.

This decision comes after nearly six other locations in Western New York were closed due to the company's bankruptcy. Interestingly, this store was the alternative Rite Aid had recommended to customers when it closed another one of its pharmacies on the East Side last year.

Once this store closes, residents must walk about 25 minutes to the nearest pharmacy. Recognizing the potential impact on the community, New York Attorney General Letitia James has stepped in.

She has filed an objection with the bankruptcy court against closing the Bailey Avenue store and another store in Poughkeepsie. Attorney General James argues that closing these stores will significantly increase the pressure on the remaining pharmacies to meet the community's healthcare needs, effectively placing an "undue burden" on them.

Also Read: Shoppers Mourn as Forever 21 and Amy's Hallmark Announce Closures in Kansas City Mall

New York Fights to Keep Rite Aid Stores Open

Meanwhile, New York State is taking action to prevent the closure of Rite Aid stores in Poughkeepsie and Buffalo, citing the negative impact their shutdown would have on local communities. The state has officially asked for these two stores removed from the locations set to close.

However, it seems these efforts may not stop the planned closures. Signs announcing the store's closing have already been installed on the buildings.

When asked for a comment, Rite Aid has not yet replied to inquiries from The U.S. Sun.

Rite Aid Faces Store Closures Nationwide

Rite Aid has been going through difficult times. Last year, it had to declare bankruptcy under Chapter 11, which means it's trying to reorganize its business to stay afloat. Because of this, Rite Aid said it would close and sell many of its stores across the United States.

The company decided to shut down 431 of its stores all over the country. This plan started last fall when it sold 150 stores, including three in Western New York. The Rite Aid store at 452 Main Street in Buffalo and another at 2453 Elmwood Ave. in Kenmore closed last year. They also sold a piece of land at 15 Arnold Street in Buffalo.

More bad news is on the horizon for Rite Aid in Western New York, as more store closures are expected.

According to Business Insider, Rite Aid will close 77 more stores in the United States in 2024 because of its bankruptcy. This includes nine New York State stores, some located in the Western New York region.

Related Article: Dime Store Farewell: Michigan Loses One of Its Last Beloved Shops

© 2024 Franchise Herald. All rights reserved.

Franchise News

Real Time Analytics