Business & Tech
Troubled Pharmacy Chain Closing Another 14 NJ Locations
The retailer filed for bankruptcy on May 4 for the second time in less than two years.
NEW JERSEY — Rite Aid is closing 151 additional stores nationwide as it traverses its second bankruptcy, and 14 additional locations in New Jersey will be among those shuttered.
The latest round of closings was revealed in U.S. Bankruptcy Court filings on Friday. This filing will bring the total number of closures to 268 nationwide.
Rite Aid filed for bankruptcy on May 4 for the second time in less than two years after the previous restructuring lessened the pharmacy chain's debt but still left it on unsound financial footing.
Find out what's happening in Across New Jerseyfor free with the latest updates from Patch.
The company listed liabilities in the range of $1 billion to $10 billion in a Chapter 11 petition filed in bankruptcy court.
The following New Jersey locations are now slated for closure, according to a list obtained by USA Today:
Find out what's happening in Across New Jerseyfor free with the latest updates from Patch.
- 424 Route 9, Bayville
- 151 Route 94, Blairstown
- 1070 North Pearl St., Bridgeton
- 52 East Broad St., Bridgeton
- 332 Raritan Ave., Highland Park
- 220 Mathistown Road, Little Egg Harbor
- 3553 Washington Road, Parlin
- 130 East Main St., Penns Grove
- 76 Smith St., Perth Amboy
- 865 Route 45, Pilesgrove
- 3258 Bridge Ave., Point Pleasant
- 220 Route 70, Toms River
- 7 West Landis Ave., Vineland
- 531 US Highway 22 East, Whitehouse Station
Earlier this month, separate bankruptcy filings identified the first two New Jersey stores to close. Those were:
- 75 South Main St., Neptune
- 403 Sicklerville Rd., Sicklerville
Last week, the company announced a "rolling transition" of its pharmacy assets from more than a thousand stores across the country, which will likely include its New Jersey locations.
The assets will be transferred to CVS, Walgreens, Albertsons, Kroger and Giant Eagle, among others. CVS said it is acquiring the prescription files of 625 Rite Aid pharmacies in 15 states and purchasing 64 Rite Aid stores in Idaho, Oregon and Washington.
Before the bankruptcy declaration, Rite Aid had eight million pharmacy customers.
Customers have until June 6 to use any Rite Aid gift cards, coupons, or rewards. Returns or exchanges will be processed or accepted until June 4.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
