WASHINGTON — A month after announcing plans to close about 7% of its stores in a Chapter 11 bankrupcy filing, Rite Aid plans to shutter 32 additional locations, including several in Ohio.
In a court filing, Rite Aid announced that 32 stores will be closing to join the 154 that were submitted last month.
Of the 32 locations set to close, here are the ones from Ohio:
- Broadview Heights - 8085 Broadview Road
- Canton - 3010 Whipple Avenue NW
- East Liverpool - 614 Bradshaw Avenue
- Fairlawn - 2975 West Market Street
- Willoughby - 36212 Euclid Avenue
Six of the initial 154 locations to close are in Ohio, including Massillon and Youngstown.
Rite Aid said in a recent Securities and Exchange Commission filing that it has more than 2,200 locations in 17 states. That filing also noted that the company lost about $1.3 billion in the first half of its fiscal year. That’s more than double the $441 million it lost in the same period during the previous fiscal year.
Rite Aid said in its October bankruptcy court filing that it also may close additional stores.
The company stated last month that going through its voluntary Chapter 11 process will help significantly cut the company’s debt and resolve litigation “in an equitable manner.”
The Philadelphia company, which is marking its 60th birthday this year, has been cutting costs and closing some stores as it has dealt with long-standing financial challenges.
The company, like its rivals, also faces financial risk from lawsuits over opioid prescriptions. Rite Aid already has reached several settlements, including one announced last year with the state of West Virginia for up to $30 million.
In March, the U.S. Justice Department intervened in a whistleblower lawsuit brought by former employees under the False Claims Act. Federal officials said in a statement that the drugstore chain filled “at least hundreds of thousands” of illegal prescriptions for drugs including opioids.
Rite Aid called the government’s claims “hyperbolic” in a subsequent motion to dismiss. The company said facts alleged in the case actually showed it exceeded regulatory requirements for diversion control.
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