Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts.
The first tranche of stores to be sold — both leased and owned — is located in nine states, according to A&G Real Estate Partners, which is advising the drug store chain on its real estate portfolio. The states include California (17 stores), Maryland (4), Michigan (16), New Jersey (8), New York (17), Ohio (4), Oregon (2), Pennsylvania (17), New Hamphire (2) and Washington (10), Alabama (1), Idaho (1).
The writing has been on the wall for some time for Rite Aid, the third-biggest standalone pharmacy chain in the US, as the entire drug store retail sector struggles to compete with Amazon and big-box chains like Walmart, Target and Costco moving deeper into the space and offering more customer-friendly alternatives to the nationwide pharmacy chains.
Compounding its problems were legal troubles stemming from accusations of filing unlawful opioid prescriptions for customers.
Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses.
While it has secured $3.5 billion in financing and debt reduction agreements from lenders to keep the company afloat through its bankruptcy, Rite Aid said it would accelerate store closures and sell off some of its businesses, including prescription benefit provider Elixir Solutions. Bankruptcy could also help resolve the company's legal disputes at a vastly reduced cost.
As it reevaluates its portfolio of stores, these are the Rite Aid locations that are currently up for sale:
SEC Alabama Ave. & Pike St. in Monroeville, Alabama920 East Valley Blvd in Alhambra, California571 Bellevue Road in Atwater, California3029 Harbor Blvd. in Costa Mesa, California139 North Grand Ave. in Covina, California20572 Homestead Road in Cupertino, California24829 Del Pradoin Dana Point, California7859 Firestone Blvd. in Downey, California8509 Irvine Center Drive in Irvine, California15800 Imperial Hwy. in La Mirada, California30222 Crown Valley Pkwy. in Laguna Niguel, California4046 South Centinela Ave. in Los Angeles, California499 Alvarado St. in Monterey, California1670 Main St. in Ramona, California1309 Fulton Ave. in Sacramento, California901 Soquel Ave. in Santa Cruz, California19701 Yorba Linda Blvd. in Yorba Linda, California25906 Newport Road in Menifee, California1600 North Main St. in Meridian, Idaho 5808 Ritchie Hwy. in Baltimore, Maryland5 Bel Air South Pkwy. in Bel Air, Maryland728 East Pulaski Hwy. in Elkton, Maryland7501 Ritchie Hwy. In Glen Burnie, Maryland35250 South Gratiot Ave. in Clinton Township, Michigan36485 Garfield Road. in Clinton Township, Michigan1900 East 8 Mile Road. in Detroit, Michigan25922 Middlebelt Road. in Farmington Hills, Michigan924 West Main St. in Fremont, Michigan715 South Clinton St. in Grand Ledge, Michigan3100 East Michigan Ave. in Jackson, Michigan15250 24 Mile Road in Macomb, Michigan1243 U.S. 31 South in Manistee, Michigan15181 Telegraph Road in Redford, Michigan320 N Main St. in Redford, Michigan51037 Van Dyke Ave. in Shelby Township, Michigan109 North Whittemore St. in St. Johns, Michigan102 North Centerville Road in Sturgis, Michigan9155 Telegraph Road in Taylor, Michigan47300 Pontiac Trail in Wixom, Michigan205-209 Main St. in Berlin, New HampshireGrove St. and Route 101 in Peterborough, New Hampshire37 Juliustown Road in Browns Mills, New Jersey 1426 Mount Ephraim Ave. in Camden, New Jersey1636 Route 38, Suite 49 in Lumberton, New Jersey210 Bridgeton Pike in Mantua, New Jersey108 Swedesboro Road in Mullica Hill, New JerseyRoute 33 and Robbinsville- Edinburg Road in Robbinsville, New Jersey773 Hamilton St. in Somerset, New Jersey1434 South Black Horse Pike in Williamstown, New Jersey836 Sunrise Hwy. in Bay Shore, New York452 Main St. in Buffalo, New York 15 Arnold St. in Buffalo, New York 901 Merrick Road in Copiague, New York577 Larkfield Road in East Northport, New York2 Whitney Ave. in Floral Park, New York115-10 Merrick Blvd. in Jamaica, New York2453 Elmwood Ave. in Kenmore, New York3131 Hempstead Turnpike in Levittown, New York700-43 Patchogue-Yaphank in Medford, New York4188 Broadway in New York, New York195 8th Ave. in New York, New York1033 St. Nicholas Ave. in New York, New York593 Old Town Road in Port Jefferson, New York101 Main St. in Sayville, New York 65 Route 111 in Smithtown, New York397 Sunrise Hwy. in West Patchogue, New York120 South Main St. in New Carlisle, OhioEuclid & Strathmore in East Cleveland, Ohio1204 Gettysburg Ave. in Dayton, Ohio 2323 Broadview Road in Cleveland, Ohio 981 Medford Center in Medford, Oregon4346 N.E. Cully Blvd. in Portland, Oregon2722 West 9th St. in Chester, Pennsylvania5990 University Blvd. in Coraopolis, Pennsylvania1709 Liberty Ave. in Erie, Pennsylvania6090 Route 30 in Greensburg, Pennsylvania301 Eisenhower Drive in Hanover, Pennsylvania1730 Wilmington Road in New Castle, Pennsylvania700 Stevenson Blvd. in New Kensington, Pennsylvania350 Main St. in Pennsburg, Pennsylvania5612 North 5th St. in Philadelphia, Pennsylvania2401 East Venango St. in Philadelphia, Pennsylvania3000-02 Reed St. in Philadelphia, Pennsylvania 7941 Oxford Ave. in Philadelphia, Pennsylvania 136 North 63rd St. in Philadelphia, Pennsylvania 10 South Center St. in Pottsville, Pennsylvania 351 Brighton Ave. in Rochester, Pennsylvania208 East Central Ave. in Titusville, PennsylvaniaSR 940 and Main St. in White Haven, Pennsylvania 3620 Factoria Blvd SE in Bellevue, Washington11919 NE 8th St in Bellevue, Washington222 Telegraph Road in Bellingham, Washington1195 Boblett St. in Blaine, Washington 17125 SE 272nd St. in Covington, Washington10103 Evergreen Way in Everett, Washington2518 196th St SW in Lynnwood, Washington3202 132nd St., S.E. in Mill Creek, Washington601 South Grady Way in Renton, Washington2707 Rainier Ave. in South Seattle, Washington
-- CNN's David Goldman contributed to this story
