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Rite Aid Announces Massachusetts Store Closure After Declaring Bankruptcy Rite Aid Announces Massachusetts Store Closure After Declaring Bankruptcy
Rite Aid Announces Massachusetts Store Closure After Declaring Bankruptcy Rite Aid has announced new store closures after the struggling pharmacy chain filed for bankruptcy in the fourth quarter of 2023. Shortly after declaring bankruptcy, Rite Aid announced 154 store closures. In a filing on Tuesday, April 9, the company said 17 more stores, including one in Massachusetts, in Fall River, at 10 Stafford Road, Rite Aid currently has 2,000 stores and about 44,000 employees. Rite Aid is one of a number of drugstore chains facing litigation related to the deadly abuse of opioids and more than a thousand lawsuits have been filed claiming Rite Aid illegally…

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by Joe Lombardi
Police & Fire
Murder-Suicide: Autopsy Results Shed Light On Mass Family's Deaths Murder-Suicide: Autopsy Results Shed Light On Mass Family's Deaths
Murder-Suicide: Autopsy Results Shed Light On Mass Family's Deaths The family found dead inside a Dover mansion last week died of a murder-suicide, autopsy reports found this week.  Rakesh Kamal, 57, Teena Kamal, 54, and their daughter Arianna Kamal, 18, were found shot to death inside their 11-bedroom, $4 million home in Dover about 20 miles from Boston just before 7:30 p.m. on Dec. 28, the Norfolk County District Attorney's Office said. They had all been shot to death.  An autopsy found that Rakesh Kamal killed his wife and daughter before turning the .40-caliber pistol on himself, the prosecutor's office said.  The gun was…

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by Josh Lanier
Business
'Pharmageddon': CVS, Walgreens Protests Spread As Workers Seek Better Conditions 'Pharmageddon': CVS, Walgreens Protests Spread As Workers Seek Better Conditions
'Pharmageddon': CVS, Walgreens Protests Spread As Workers Seek Better Conditions Around a thousand pharmacy workers across the country have walked off the job as part of a strike to protest conditions. The so-called "Pharmageddon" series of walkouts at pharmacy chains including CVS and Walgreens stores started Monday, Oct. 30, and is expected to continue at least through the middle of the week. Around 900 people from about 10 states could participate, organizers of the ongoing protest told NBC News. A growing workload and understaffing are the main reasons for the protest, organizers say, noting that the pharmacy workers are not unionized. In a statement to KDKA in Pi…

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by Joe Lombardi
Business
Rite Aid Plans To Shutter Worcester County Store, 150 More, After Filing For Bankruptcy Rite Aid Plans To Shutter Worcester County Store, 150 More, After Filing For Bankruptcy
Rite Aid Plans To Shutter Worcester County Store, 150 More, After Filing For Bankruptcy Rite Aid, the pharmacy giant that filed for bankruptcy on Sunday, Oct. 15, plans to close 154 underperforming stores nationwide, according to a new filing. Some of those closures will be in Massachusetts and Connecticut.  Related: Why Is Rite Aid Filing For Bankruptcy? Rite Aid announced earlier this week that declining sales and rising debt forced the company's hand in filing for Chapter 11 bankruptcy. The chain has more than 2,100 stores nationwide, and reducing rent costs will play a large part in bringing its balance sheet back into the black.  The only store in Massachusetts…

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by Josh Lanier
Business
Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits
Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits One of the country’s largest pharmacy chains has just filed for bankruptcy. The move by Rite Aid comes amid declining sales and a rise in debt, which hit $3.3 billion, according to midyear filings.  The company said in an announcement on Sunday, Oct. 15 that in connection with the filing, it has received a commitment for $3.45 billion in new financing from some of its lenders.  "This financing is expected to provide sufficient liquidity to support the company throughout this process," Rite Aid said. Rite Aid is one of a number of drugstore chains facing litigation related to the…

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by Joe Lombardi
Business
Pet Store With 18 Mass Locations Files Bankruptcy, Closes Pet Store With 18 Mass Locations Files Bankruptcy, Closes
Pet Store With 18 Mass Locations Files Bankruptcy, Closes A pet store with locations across Massachusetts is filing for bankruptcy less than five years after announcing its opening.  Loyal Companion, a pet shop with a focus on natural wellness, announced on Monday, Feb. 6 that all stores with the name would close within the month, according to their website.  While individual stores may close on different dates, all will close by Tuesday, Feb. 28.  "With a heavy heart, we want to inform you that we've made the tough decision to close our Loyal Companion stores," the statement read. "We will be offering liquidation discoun…

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by Morgan Gonzales
Business
Revlon, 90-Year-Old Personal Care Company, Files For Bankruptcy Revlon, 90-Year-Old Personal Care Company, Files For Bankruptcy
Revlon, 90-Year-Old Personal Care Company, Files For Bankruptcy New York-based personal care and cosmetics company Revlon announced it has filed for bankruptcy on Thursday, June 16. The company is hoping to get $575 million in debtor-in-possession (“DIP”) "to strategically reorganize its legacy capital structure and improve its long-term outlook," according to a release. Revlon says they plan on operating "seamlessly" after the filing   “Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, Revlon's President an…

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by David Cifarelli
Business
JCPenney Offers Billions To Buy Rival Kohl's, Report Says JCPenney Offers Billions To Buy Rival Kohl's, Report Says
JCPenney Offers Billions To Buy Rival Kohl's, Report Says The owners of JCPenney are bidding to acquire rival Kohl’s, according to a new report. Shopping-mall owners Simon Property and Brookfield Asset Management have offered around $8.6 billion for Kohl's stores, the New York Post reports. Under the plan, JCPenney's parent company would maintain two separate brands and cut costs by $1 billion at Kohl’s over the next several years, the Post said, citing a source. After filing for bankruptcy in the spring of 2020, JCPenney was acquired by Simon Property Group and Brookfield Asset Management. With about 1,160 locations in every state except Hawaii…

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by Joe Lombardi
News
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits OxyContin creators Purdue Pharma and the Sackler family have reached a $6 billion settlement over their roles in the ongoing opioid crisis plaguing the country. The announcement comes following an earlier deal made with Purdue, headquartered in Stamford, Connecticut, that was ultimately appealed by eight states and the District of Columbia until the Sacklers kicked in more cash to get the deal done. Earlier story - NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic The $6 billion will be paid out over the course of 18 years, with larger payments fro…

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by Zak Failla
Obituaries
Official Cause Of Death For Rapper DMX Released Official Cause Of Death For Rapper DMX Released
Official Cause Of Death For Rapper DMX Released An official cause of death for rapper and lifelong New Yorker DMX has been released following his death in April at the age of 50. The Westchester County Medical Examiner told Vulture on Thursday, July 8 that the hip-hop icon died on April 9 due to a cocaine-induced heart attack which caused a lack of blood circulation to his brain. Original story - Rapper, Westchester Native, Resident DMX Dies At Age 50 
“It was cardiac arrest for a period of time, so there was no circulation to the brain,” the Medical Examiner explained to Vulture. No official statement has been released by the ME’s offi…

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by Zak Failla
Politics
Legal Expert Says Indictment Would Be 'Devastating' For Trump Organization Legal Expert Says Indictment Would Be 'Devastating' For Trump Organization
Legal Expert Says Indictment Would Be 'Devastating' For Trump Organization With the Trump Organization expected to face a criminal indictment this week, one of the nation’s top legal experts said that it could be "devastating" for the former president, and could potentially lead to bankruptcy for the company. Attorneys for the Trump Organization were advised that criminal charges will be filed in Manhattan as soon as Thursday, July 1, including top target, Chief Financial Officer Allen Weisselberg, and other lead members of the organization. The former president himself is not expected to be charged with anything criminal. Related story - Trump Foundation Will C…

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by Zak Failla
News
Rapper DMX Hospitalized In NY In Grave Condition Rapper DMX Hospitalized In NY In Grave Condition
Rapper DMX Hospitalized In NY In Grave Condition The rapper DMX is hospitalized in his native New York in Westchester County in grave condition, according to a report by TMZ. DMX, age 50, whose birth name is Earl Simmons, suffered an overdose around 11 p.m. Friday, April 2, which led to a heart attack, according to TMZ. He is hospitalized in the critical care unit in White Plains, the report said. Simmons is a Mount Vernon native who grew up in Yonkers. Simmons lived near the Bedford border on McLain Street in Mount Kisco with his now-estranged wife Tashera Simmons before putting the home into foreclosure in 2016 after filing for bankru…

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by Joe Lombardi
Business
COVID-19: Century 21 Files For Bankruptcy, Closing All Stores COVID-19: Century 21 Files For Bankruptcy, Closing All Stores
Covid-19: Century 21 Files For Bankruptcy, Closing All Stores Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release. The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said.  "While retailers across the board have suffered greatly due to COVID-19, and Century 2…

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by Cecilia Levine
Business
Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy
Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy KB US Holdings, the parent company of Kings Food Markets and Balducci’s Food Lover’s Market, which has locations throughout the region, has filed for Chapter 11 bankruptcy amid the COVID-19 pandemic. The company announced this week that “it has accepted a stalking horse bid from TLI Bedrock to purchase the company for $75 million.” To facilitate the sale, KB and its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. Kings currently operates 25 specialty supermarkets, including 23 in New Jerse…

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by Zak Failla
Business
Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business
Lord & Taylor Closing All Its Stores After Nearly 200 Years In Business Lord & Taylor, the first department store to be established in the United States, is going out of business, closing all its stores after a 194-year run. Reversing a decision announced last week to keep 14 stores open, the company announced on Thursday, Aug. 27 that all of its 38 remaining stores and website have begun liquidation sales.  Parent company Le Tote had filed for bankruptcy Sunday, Aug. 2. "While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inv…

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by Joe Lombardi
Business
Lord & Taylor Closing 24 Department Stores Mostly In CT, NY, NJ, MA Lord & Taylor Closing 24 Department Stores Mostly In CT, NY, NJ, MA
Lord & Taylor Closing 24 Department Stores Mostly In CT, NY, NJ, MA Department Store chain Lord & Taylor has announced the closure of 24 more of its stores - many of them located in Connecticut, New York, Massachusetts, and New Jersey. Lord & Taylor filed for Chapter 11 Bankruptcy in August. The retail giant, which was established in 1826, joins other chains that couldn’t survive the tragic COVID-19 economy. Other bigs that are closing shops across the country include J.C. Penny, Pier One, and Brooks Brothers. So far this year, 6,000 department stores in the U.S. have been permanently closed, according to Coresight Research. The local Lord & …

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by Kristin Palpini