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Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List
Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List Rite Aid will shut down more than 100 additional stores nationwide as the struggling pharmacy chain moves deeper into bankruptcy. The closings were disclosed in a recent bankruptcy court filing, less than a month after Rite Aid filed for Chapter 11 on Monday, May 5. The Philadelphia-based chain is working to sell off its pharmacies, inventory, and other assets to several potential buyers. Rite Aid said it has secured $1.94 billion in new financing to keep locations open during the bankruptcy process. Pharmacy services and immunizations will continue in-store and online. The lates…

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by Chris Spiker
Business
CVS Closing Hundreds Of Stores Across US CVS Closing Hundreds Of Stores Across US
CVS Closing Hundreds Of Stores Across US CVS says it will close 271 retail locations across the country by the end of the year. The company — the world’s second-largest healthcare provider — announced the move to stockholders late last week as part of an enterprise-wide restructuring plan. The goal, CVS says, is to simplify the organization, improve efficiency, and generate more than $500 million in cost savings in 2025. CVS has not yet released which stores will be affected or when closures will take place. The company currently operates around 9,100 stores across the US. Founded in 1963 in Lowell, Massachusetts, CVS is n…

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by Joe Lombardi
Business
Rite Aid Files For Bankruptcy As Pharmacies Struggle: What It Means For Your Prescriptions Rite Aid Files For Bankruptcy As Pharmacies Struggle: What It Means For Your Prescriptions
Rite Aid Files For Bankruptcy As Pharmacies Struggle: What It Means For Your Prescriptions Rite Aid has declared bankruptcy for the second time in less than two years, as part of a plan to sell off its pharmacies, inventory, and other assets. The Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy on Monday, May 5. Rite Aid has entered talks with several potential national and regional buyers. The company said it has secured $1.94 billion in new financing to keep most stores open during the process. Pharmacy services and immunizations will remain available in-store and online. In October 2023, Rite Aid previously filed for bankruptcy …

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by Chris Spiker
Business
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS is rolling out a new wave of smaller-format pharmacies in select communities nationwide as it tries to adapt to changes in the retail world. CVS plans to open at least a dozen of these compact pharmacies nationwide in 2025, a spokesperson confirmed to Daily Voice on Monday, Mar. 10. The pharmacy-only locations aim to improve access to medications, immunizations, and pharmacist-provided health care services. Each location will average less than 5,000 square feet, with a full-service pharmacy and a limited selection of over-the-counter products tailored to a community. "By taki…

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by Chris Spiker
Business
CVS To Lay Off Nearly 3K Workers CVS To Lay Off Nearly 3K Workers
CVS To Lay Off Nearly 3K Workers CVS announced it will lay off nearly 3,000 workers as part of a cost-cutting move aimed at saving $2 billion. These approximately 2,900 layoffs, primarily in corporate roles in the company's CVS Health division, represent less than 1 percent of the company's workforce, CVS said.  "The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers,” a CVS spokesperson told CNN. The move comes a day after CVS management met with major shareholder Glenview Capital to discuss the company’s deficits and its dipping stock price, according to CNBC. Founded in…

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by Joe Lombardi
Business
Stop & Shop Will No Longer Sell Tobacco Products Stop & Shop Will No Longer Sell Tobacco Products
Stop & Shop Will No Longer Sell Tobacco Products Stop & Shop, the supermarket chain with 360 stores throughout the Northeast, said its locations will stop carrying tobacco products at the end of the month.  The chain announced the move on Monday, Aug. 26, after it partnered with the American  American Cancer Society to improve community health, Stop & Shop CEO Gordon Reid said in a statement.  Our responsibility as a grocer goes far beyond our aisles, and we are committed to taking bold steps to help our associates, customers, and communities work towards better health outcomes. From our team of registered diet…

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by Josh Lanier