Sam's local Rite Aid on Franklin Boulevard and W. 65th Street. Photo: Sam Allard/Axios
Things are not looking good for Rite Aid.
Driving the news: In a filing last week, the Philadelphia-based pharmacy chain told a U.S. Bankruptcy Court in New Jersey that it planned to close 27 stores in Ohio and Michigan.
Later reporting in the Ohio Capital Journal and elsewhere indicated that "virtually all" locations in Ohio and Michigan are likely to be closed as the company restructures.
The latest: Rite Aid held a conference call with pharmacists and told them it would close "all but a tiny number of its [Ohio and Michigan] stores in a series of waves over the coming weeks," the Ohio Capital Journal reported.
Walgreens is likely to buy the pharmacy's prescription files.
💠Sam's thought bubble: The Rite Aid at Franklin and West 65th — with previous incarnations as a CVS, a Revco and a Pick-n-Pay grocery store — has been among my go-to shopping destinations for years.
I'm distraught over losing a neighborhood drugstore and hopeful that the dedicated, friendly staff there are taken care of during the corporate turmoil.
