Rite Aid to shutter 31 stores, no Hudson Valley locations affected
The Rite Aid Corporation has announced the closure of an additional 31 stores across 12 states, marking a continuation of its restructuring strategy subsequent to filing for bankruptcy.
Rite Aid is set to shut down 31 stores as part of its strategic reorganization efforts following the recent bankruptcy filing. The closures will affect various locations in a dozen states, including New York, though the impacted stores are not situated in Westchester or the Hudson Valley. The affected stores in New York are located in the Bronx and on Long Island.
States other than New York facing closures in this round include Connecticut, New Jersey, Pennsylvania, Maryland, and California. The decision to close these stores comes on the heels of the company's bankruptcy filing, which was announced last month.
Over the past six years, Rite Aid has incurred losses amounting to nearly three billion dollars, leading to a staggering decline in its stock value, which has plummeted by more than 90 percent this year.
Once the closure of these 31 stores is completed, Rite Aid will continue to operate approximately two thousand stores across the nation.