Beloved bankrupt drugstore to launch sale as 154 locations set to close in 12 different states

A POPULAR drugstore is closing 100 stores across the country after filing for bankruptcy.

Rite Aid revealed in the filing that it is over $4billion in debt and $8.6billion in total liabilities.

As a result, the company is shuttering 154 locations, in addition to the 200 closures that happened before filing.

Bankruptcy sales of both leased and owned stores in 12 states will begin soon, announced A&G Real Estate Partners, which is advising Rite Aid on its real estate portfolio.

“Rite Aid, which operates more than 2,100 retail pharmacy locations across 17 states, is working collaboratively with its financial stakeholders to reduce its debt and position its business for success,” the company wrote in a statement.

“Portfolio optimization is a powerful and essential part of that go-forward strategy.”

read more on store closing

The first spate of stores to go up for sale include; 17 stores in California, four in Maryland, 16 in Michigan, eight in New Jersey, 17 in New York, four in Ohio, two in Oregon, 17 in Pennsylvania, two in New Hampshire, 10 in Washington, one in Alabama, and one in Idaho.

The exact addresses are below, according to CNN:

SEC Alabama Ave. & Pike St. in Monroeville, Alabama
920 East Valley Blvd in Alhambra, California
571 Bellevue Road in Atwater, California
3029 Harbor Blvd. in Costa Mesa, California
139 North Grand Ave. in Covina, California
20572 Homestead Road in Cupertino, California
24829 Del Pradoin Dana Point, California
7859 Firestone Blvd. in Downey, California
8509 Irvine Center Drive in Irvine, California
15800 Imperial Hwy. in La Mirada, California
30222 Crown Valley Pkwy. in Laguna Niguel, California
4046 South Centinela Ave. in Los Angeles, California
499 Alvarado St. in Monterey, California
1670 Main St. in Ramona, California
1309 Fulton Ave. in Sacramento, California
901 Soquel Ave. in Santa Cruz, California
19701 Yorba Linda Blvd. in Yorba Linda, California
25906 Newport Road in Menifee, California
1600 North Main St. in Meridian, Idaho
5808 Ritchie Hwy. in Baltimore, Maryland
5 Bel Air South Pkwy. in Bel Air, Maryland
728 East Pulaski Hwy. in Elkton, Maryland
7501 Ritchie Hwy. In Glen Burnie, Maryland
35250 South Gratiot Ave. in Clinton Township, Michigan
36485 Garfield Road. in Clinton Township, Michigan
1900 East 8 Mile Road. in Detroit, Michigan
25922 Middlebelt Road. in Farmington Hills, Michigan
924 West Main St. in Fremont, Michigan
715 South Clinton St. in Grand Ledge, Michigan
3100 East Michigan Ave. in Jackson, Michigan
15250 24 Mile Road in Macomb, Michigan
1243 U.S. 31 South in Manistee, Michigan
15181 Telegraph Road in Redford, Michigan
320 N Main St. in Redford, Michigan
51037 Van Dyke Ave. in Shelby Township, Michigan
109 North Whittemore St. in St. Johns, Michigan
102 North Centerville Road in Sturgis, Michigan
9155 Telegraph Road in Taylor, Michigan
47300 Pontiac Trail in Wixom, Michigan
205-209 Main St. in Berlin, New Hampshire
Grove St. and Route 101 in Peterborough, New Hampshire
37 Juliustown Road in Browns Mills, New Jersey
1426 Mount Ephraim Ave. in Camden, New Jersey
1636 Route 38, Suite 49 in Lumberton, New Jersey
210 Bridgeton Pike in Mantua, New Jersey
108 Swedesboro Road in Mullica Hill, New Jersey
Route 33 and Robbinsville- Edinburg Road in Robbinsville, New Jersey
773 Hamilton St. in Somerset, New Jersey
1434 South Black Horse Pike in Williamstown, New Jersey
836 Sunrise Hwy. in Bay Shore, New York
452 Main St. in Buffalo, New York
15 Arnold St. in Buffalo, New York
901 Merrick Road in Copiague, New York
577 Larkfield Road in East Northport, New York
2 Whitney Ave. in Floral Park, New York
115-10 Merrick Blvd. in Jamaica, New York
2453 Elmwood Ave. in Kenmore, New York
3131 Hempstead Turnpike in Levittown, New York
700-43 Patchogue-Yaphank in Medford, New York
4188 Broadway in New York, New York
195 8th Ave. in New York, New York
1033 St. Nicholas Ave. in New York, New York
593 Old Town Road in Port Jefferson, New York
101 Main St. in Sayville, New York
65 Route 111 in Smithtown, New York
397 Sunrise Hwy. in West Patchogue, New York
120 South Main St. in New Carlisle, Ohio
Euclid & Strathmore in East Cleveland, Ohio
1204 Gettysburg Ave. in Dayton, Ohio
2323 Broadview Road in Cleveland, Ohio
981 Medford Center in Medford, Oregon
4346 N.E. Cully Blvd. in Portland, Oregon
2722 West 9th St. in Chester, Pennsylvania
5990 University Blvd. in Coraopolis, Pennsylvania
1709 Liberty Ave. in Erie, Pennsylvania
6090 Route 30 in Greensburg, Pennsylvania
301 Eisenhower Drive in Hanover, Pennsylvania
1730 Wilmington Road in New Castle, Pennsylvania
700 Stevenson Blvd. in New Kensington, Pennsylvania
350 Main St. in Pennsburg, Pennsylvania
5612 North 5th St. in Philadelphia, Pennsylvania
2401 East Venango St. in Philadelphia, Pennsylvania
3000-02 Reed St. in Philadelphia, Pennsylvania
7941 Oxford Ave. in Philadelphia, Pennsylvania
136 North 63rd St. in Philadelphia, Pennsylvania
10 South Center St. in Pottsville, Pennsylvania
351 Brighton Ave. in Rochester, Pennsylvania
208 East Central Ave. in Titusville, Pennsylvania
SR 940 and Main St. in White Haven, Pennsylvania
3620 Factoria Blvd SE in Bellevue, Washington
11919 NE 8th St in Bellevue, Washington
222 Telegraph Road in Bellingham, Washington
1195 Boblett St. in Blaine, Washington
17125 SE 272nd St. in Covington, Washington
10103 Evergreen Way in Everett, Washington
2518 196th St SW in Lynnwood, Washington
3202 132nd St., S.E. in Mill Creek, Washington
601 South Grady Way in Renton, Washington
2707 Rainier Ave. in South Seattle, Washington

Ten years ago, Rite Aid had as many as 4,600 stores but it is now left with less than half as more continue to close.

BAD PHARMA

Last month the Wall Street Journal reported that the company could shutter up to 500 stores as bankruptcy rumors swirled.

The closures were decided based on a number of factors, according to Insider. Some of the reasons included business strategy, lease and rent considerations, local business conditions and viability, and store performance.

Rite Aid guaranteed that there would be no disruption of service following any closures as prescriptions would be transferred to nearby pharmacies.

The company is also facing over a thousand federal lawsuits over allegations that it oversupplies prescription painkillers, which could push it further into debt.

Several state-level lawsuits allege the same thing.

The Federal Justice Department also filed a lawsuit against the company, alleging it broke the False Claims Act and Controlled Substances Act.

Rite Aid has denied any wrongdoing and asked the federal court to dismiss the Justice Department's lawsuit.

The bankruptcy filing puts the lawsuits on hold and allows the company to resolve legal claims in a single forum.

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