Store Closing List: These Rite Aid Locations in NJ, PA are Shutting Down
On Monday, news broke that Philadelphia-based Rite Aid was filing for bankruptcy protection and, as a result, could potentially close countless underperforming stores.
Today, a list of stores that will be shutting down is beginning to surface.
For years, Rite Aid, which is estimated to be about $8.6 billion in debt, has been dealing with slowing sales, increasing competition, and, more importantly, hundreds of lawsuits involving the nation's opioid epidemic.
In terms of slowing sales, simply put, shoppers have no shortage of places to buy everyday items. So the question becomes, why shop at Rite Aid?
Target, Walmart, Amazon, and even CVS often offer lower prices and a more convenient shopping experience, not to mention, filling prescriptions is not much of a hassle these days.
Meanwhile, its direct competitors have been able to successfully expand their investments in healthcare offerings, such as Minute Clinics inside CVS stores and Walgreens' plans to open doctors' offices inside their stores shortly.
Neil Saunders, managing director of GlobalData, recently told the Asbury Park Press,
Against this financial backdrop, Rite Aid simply isn’t a viable entity: it is basically running on the fumes of cash it generates in the day-to-day business.
As part of its bankruptcy filing, experts expect Rite Aid to close anywhere from 400 to 500 stores across the country.
NJ store closings
According to court documents obtained by the Asbury Park Press, a dozen Rite Aid stores in the Garden State will be closing, roughly evenly split between North and South Jersey.
- AUGUST: Rite Aid in Hackettstown Closes
Those stores are in the following locations:
- Haledon Ave., Haledon, Passaic County
- Mill Rd., Irvington, Essex County
- Route 38, Lumberton, Burlington County
- Lacey Rd., Manchester Township, Ocean County
- Bridgeton Pike, Mantua, Gloucester County
- Swedesboro Road, Mullica Hill, Gloucester County
- Route 33, Robbinsville, Mercer County
- Hamilton St., Somerset, Somerset County
- Asbury Ave., Tinton Falls, Monmouth County
- Route 37 East, Toms River, Ocean County (recently closed)
- Marshall Hill Rd., West Milford, Passaic County
- S. Black Horse Pike, Williamstown, Gloucester County
PA store closings
- WFMZ-TV in Allentown reports two stores in the Easton area closed last month and a store in Bethlehem is closing today. Also in the Lehigh Valley, The Morning Call says a fourth store just closed.
- KDKA-TV/Pittsburgh says two stores in that area have recently closed and "more stores around the area are set to close in the coming days."
- Patch.com reports that 30 Rite Aid locations across Pennsylvania have already closed in the past month, including at least 2 surrounding Philadelphia.
This is a developing story that will be updated as more information becomes available.
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Gallery Credit: Chris Coleman