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Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [10] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022. [11]
NEW YORK (Reuters) - Rite Aid, one of the largest U.S. pharmacy chains, received permission from a U.S. judge on Thursday to begin voting on a bankruptcy restructuring plan that would turn over...
October 19, 2023 at 8:50 AM. Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.
As NBC News reported, the chain operated 2,253 stores as of Sept. 3. The states most affected by the closures are Pennsylvania (39 stores), California (31 stores) and New York (20 stores). While ...
On July 28, 2016, Walgreens announced it would shut down Drugstore.com, as well as Beauty.com, to focus on its own Walgreens.com website. [35] On September 19, 2017, the Federal Trade Commission (FTC) approved Walgreens' fourth attempt to purchase Rite Aid, with 1,932 stores, for $4.38 billion. [36]
On October 27, 2015, Walgreens announced the purchase of competitor Rite Aid for $17.2 billion. [12] However, that deal was later scrapped due to antitrust concerns in favor of a $5.18 billion deal, in which Walgreens only acquired half of Rite Aid locations. [13]