It’s become commonplace to read the news of a major retailer filing for bankruptcy and closing stores.
It’s just the world we live in these days.
Recently, we’ve witnessed the fall of Boston Market and Bed Bath & Beyond.
Why is this happening? Retail Dogma says:
Retail stores start closing for many different reasons, such as over-expansion, cash crunch, brand-related issues, mall-related issues, and economic and demographic reasons.
The next major retailer that looks to be in trouble is Rite Aid.
Rite Aid has 108 locations sprinkled all over New Jersey, including towns like:
Why are some New Jersey Rite Aids closing?
It’s not for the reason you may think.
Not only is Rite Aid in financial peril, they are facing mounting legal issues.
Rite Aid is being accused of over-prescribing painkillers.
Currently, the company is contesting more than a thousand lawsuits that are expected to be handled in an Ohio court. And it faces more legal challenges in multiple state courts over its role in prescribing opioid treatments, which allegedly have contributed to a national painkiller drug epidemic.
I stopped at my local Rite Aid the other day. I hadn’t been inside in a very long time. It was rough-looking.
There’s no reason to panic and transfer your prescriptions if you’re a Rite Aid customer. There is still no word on exactly which Rite Aids will be closing.
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