Parent company files for bankruptcy
The Rite Aid on Main Street in Beacon is not among the first list of stores that the company plans to close as part of a recent bankruptcy filing.
As part of Chapter 11 proceedings filed Oct. 15, the company said it will close 154 stores in 12 states. Nearly all the 20 New York locations the company said it will shutter are in New York City and Long Island.
The firm has 2,300 stores in 17 states that employ 45,000 people, including 6,300 pharmacists. It says it could add more stores the list.
Rite Aid is the third-largest standalone pharmacy chain in the U.S. behind CVS and Walgreens but has struggled to compete with Amazon, Walmart, Target and the like. It has had $3 billion in losses over the past six years.
