NOTTINGHAM, MD—Rite Aid has announced that its store located in the Perry Hall Square shopping center will close its doors next week.
According to the official media release:
“Rite Aid regularly assesses its retail footprint to ensure we are operating efficiently while meeting the needs of our customers, communities, associates and overall business. In connection with the court-supervised process, we notified the Court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance. At this time, we have not made or confirmed any decisions on additional specific store closures as part of our financial restructuring process.
Additional Facts for Use on Background:
• The decision to close a store is not one we take lightly. The Company, with the assistance of its advisors, carefully considers various factors in its decision-making, including business strategy, lease and rent considerations, local business conditions and viability, and store performance.
• For our customers, we make every effort to ensure they have access to pharmacy-based health services, whether at another Rite Aid or other nearby pharmacy, and we work to seamlessly transfer their prescriptions to ensure there is no disruption of service.
• For our associates, we strive to transfer them to other Rite Aid locations where possible. In fact, approximately 75% of our associates have accepted opportunities to transfer locations if their store has been or is part of the ongoing store closures.”
Rite Aid filed for Chapter 11 bankruptcy protection in October.
The Perry Hall Square location will close on November 16th.
Image via Pixabay
