Painesville Rite Aid listed for closure, indicates last day for prescriptions is July 9 (2024)

Rite Aid appears set to shutter its last Lake County location after its Painesville store was listed for closure in a recent court document filed with the U.S. Bankruptcy Court for the District of New Jersey and posted by the company’s claims agent.

The store at 180 N. State St. was one of 30 Ohio and Michigan locations listed in the June 28 notice of additional closing stores as part of Rite Aid’s bankruptcy process.

The store did not have any signage posted with information about a closure as of mid-afternoon on July 1, though there were handwritten signs indicating that the last opportunity for patients to pick up prescriptions would be 1 p.m. July 9.

The signage did not indicate what would happen to the pharmacy’s prescriptions after July 9.

Rite Aid’s national media office did not immediately respond to a request for comment.

The announcement comes less than a month after CVS closed its neighboring 265 E. Erie St. store. CVS referred customers to its store at 1890 N. Ridge Road in Painesville Township.

Painesville City released a statement about the closures on July 1.

“These decisions are made by their corporate offices and, based on our own assessment, has nothing to do with store traffic numbers,” the statement said. “As the rise of online services continue to grow, more closures in the surrounding areas should be expected.”

“Painesville City administration is working to contact the appropriate decision makers at each corporation to inquire about plans to sell the property and possible re-uses of the retail space,” it added. “The city will work with the property owners to provide any assistance in redeveloping these buildings.”

The administration referenced the potential closure of two pharmacies in May when proposing a one-year moratorium on new small-box discount stores, which City Council approved in June.

“What we wanted to do was take a look at what were the best and highest uses for those buildings, and hopefully stop any of the discount stores from moving in to have those buildings rented, but look at what the other options are and where we do want some of the discount stores within the city of Painesville,” City Manager Doug Lewis said at the time.

According to Painesville’s statement, Lake County Administrator Jason Boyd told the city that the county would not purchase the pharmacy properties or use them for an upcoming county jail or parking spaces.

City Public Information Officer Kathleen Sullivan added that the county’s new jail and safety center will be across Erie Street from the current jail and will not reach the block with the former CVS store.

The city also stated that it is not aware of any closure plans for the Walgreens at 132 Richmond St., though it added that “as locations across the country continue to close, customers should pay attention to signage in store.”

“Again, this is a national trend that is not unique to Painesville,” the statement said. “As buyer habits change, so does the use of retail properties.”

Painesville City’s remaining pharmacies include Walgreens and the pharmacy at the Signature Health building at 54 S. State St., Sullivan added.

Rite Aid filed for bankruptcy in October. Reuters reported on June 28 that the bankruptcy process will decrease the company’s store count from more than 2,000 to around 1,300.

Reuters added that the company’s restructuring plan was approved by a U.S. bankruptcy judge on June 28. It will reduce Rite Aid’s debt by $2 billion, and lenders will take leadership of the company.

The Associated Press reported in October that Rite Aid had endured annual losses for years before filing for bankruptcy. It added that the company’s bankruptcy filing stated that it had $8.6 billion in debts and $7.6 billion in assets.

According to a list compiled by Fox 8 News on July 1, Rite Aid has announced plans to close almost 90 Ohio stores since filing for bankruptcy. Other shuttered locations in the area include stores in Chardon, Euclid, Middlefield, Willowick and Willoughby.

None of those locations was listed on Rite Aid’s online store finder by July 2.

Rite Aid is not the only major pharmacy retailer to indicate plans to close stores.

CVS announced in 2021 that it would close approximately 900 of its almost 10,000 U.S. stores between 2022 to 2024. CNBC reported at the time that CVS planned to work on its online and healthcare offerings.

Walgreens Boots Alliance CEO Tim Wentworth said in a recent investors’ call that the Walgreens’ entire adjusted operating income comes from only 75 percent of its 8,600 U.S. stores, CBS News reported on June 27. The chain will consider closing some of the remaining 25 percent of stores over the next three years.

“The current pharmacy model is not sustainable,” CBS News reported Wentworth as saying.

The AP report listed recent challenges for pharmacies as including opioid lawsuits, drug shortages, difficulty staffing pharmacists and technicians, lower prescription reimbursements, declining demand for COVID-19 vaccines and tests and online competition.

Painesville Rite Aid listed for closure, indicates last day for prescriptions is July 9 (2024)

FAQs

What stores in Ohio is Rite Aid closing? ›

Which Rite Aid stores are closing in Ohio?
  • Canal Fulton, 2220 South Locust Street.
  • Columbiana, 14973 South Avenue.
  • Dayton, 2916 Linden Avenue.
  • Lima, 3710 Shawnee Road.
  • Lima, 3230 West Elm Street.
  • Maumee, 105 Golden Gate Plaza.
  • Medina, 207 North Court Street.
  • Mount Vernon, 4 Newark Road.
Jul 19, 2024

What company bought out Rite Aid Pharmacy? ›

Walgreens. In October 2015, Walgreens Boots Alliance agreed to buy Rite-Aid for about $17 billion, including debt, to boost Walgreens' U.S. footprint.

Which Rite Aid stores are closing in California in 2024? ›

A List of Rite Aid's 2024 Store Closings:
  • Lakewood: 5520 Woodruff Avenue.
  • San Diego: 8694 Lake Murray Boulevard.
  • Needles: 1020 East Broadway Street.
  • North Hollywood: 11350 Victory Boulevard.
  • Fontana: 9940 Sierra Avenue.
  • Livermore: 968 Murrieta Boulevard.
  • Hemet: 260 North Sanderson Avenue.
Jul 15, 2024

Does Virginia have a Rite Aid? ›

32 Rite Aid Stores in Virginia.

Why is Rite Aid in trouble? ›

NEW YORK -- Rite Aid filed for Chapter 11 bankruptcy protection Sunday, a casualty of a miserable environment for drug stores, exacerbated by its runner-up status to bigger chains and expensive legal battles for allegedly filling unlawful opioid prescriptions. The bankruptcy was not a surprise.

What store is closing in Ohio? ›

Here are some of the companies that have planned to shutter locations (or already have done so).
  • LL Flooring (formerly Lumber Liquidators) plans to close four Ohio stores. ...
  • Family Dollar closed 35 stores in Ohio. ...
  • Rite Aid closed dozens of locations across the state. ...
  • Macy's plans to close 150 stores by 2026.
1 day ago

What is the future of Rite Aid in 2024? ›

Rite Aid is planning to close more stores in 2024 as part of its Chapter 11 bankruptcy. The drugstore chain has shuttered almost 550 locations since October, NBC reported. Rite Aid has been shrinking its store count for years, losing ground to rivals Walgreens and CVS.

Why is Rite Aid rebranding? ›

In response, Rite Aid executives told investors on Monday that it will completely revamp stores, focusing on a new group of consumers to drive growth and overhauling the merchandise on its shelves to provide a more well-rounded approach to health and wellness.

Did Walgreens ever buy Rite Aid? ›

Walgreens, which operates stores under its own name as well as Boots stores in Britain and Duane Reade stores in the United States, instead bought around 42% of Rite Aid's existing stores that year for $4.38 billion.

Can I take my blood pressure at Rite Aid? ›

Higi kiosks are conveniently located within most Rite Aids, for easy access to vital sign readings, including blood pressure, height, and weight. We perform a comprehensive drug utilization review to watch out for dangerous interactions. And if you need a refill out of town, all of our locations are connected.

What is the difference between CVS and Rite Aid? ›

Rite Aid and CVS provide similar product offerings. Rite Aid has a brighter, more welcoming atmosphere than CVS. CVS and Rite Aid have rewards programs with similar offerings, discounts and savings. CVS has significantly more locations, spread out in numerous more states than Rite Aid.

What is the Pharmaceutical Assistance Program in Virginia? ›

Contact the Eligibility & Medication Assistance Call Center at 855-362-0658 if there are questions or concerns regarding this information.

Is Columbiana, Ohio Rite Aid closing? ›

Bankrupt Rite Aid continues adding to the list of stores being closed. The drug store chain revealed in a court document filed late last week that is shutting down the Columbiana Location on South Avenue at Route 14. The notification is included in a list of 31 stores being closed in Ohio and Michigan.

Is Cadiz, Ohio Rite Aid closing? ›

The Cadiz Rite Aid will be closing in months, leaving a hometown pharmacy as Harrison County's only medication dispensary.

Is Clyde, Ohio Rite Aid closing? ›

Here is the latest list of Rite Aid store closings in Ohio: Cleveland - 10090 Chester Avenue. Clyde - 710 North Main Street. Cuyahoga Falls - 1914 Bailey Road.

Is Rite Aid in Brookville, Ohio closing? ›

Since it filed Chapter 11 bankruptcy in October, court records show the company announced 52 Ohio stores would be closing. In July alone, court filings announced 20 Ohio Rite Aid closures: Akron: 325 E Waterloo Rd, 4053 S Main St. Brookville: 437 N Wolf Creek St.

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