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The company previously responsible for operating the Brooks chain, The Jean Coutu Group (PJC) USA, Inc., along with Eckerd Corporation, remained active in-name-only subsidiaries of Rite Aid, as shown in the latter company's October 2023 Chapter 11 bankruptcy filings, despite the conversion of the Brooks and Eckerd chains in 2007 and the sale of ...
In June 2007, a 109-year-old retail legacy came to an end. Rite-Aid Corporation completed its acquisition of Eckerd Pharmacy by purchasing Jean Coutu USA for $2.3 billion in cash plus $1 billion ...
On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire 1,858 Eckerd Pharmacy and Brooks Pharmacy stores from Jean Coutu for US$3.4 billion (~$4.94 billion in 2023). The deal closed on June 4, 2007. Rite Aid announced that the two chains would be converted to the Rite Aid name, retiring the 109-year-old Eckerd banner.
Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed more than 100 stores nationwide as part of its restructuring efforts.. The first tranche of stores to be ...
As shown in the company's bankruptcy filings, its 2007 acquisitions, The Jean Coutu Group (PJC) USA Inc. (Jean Coutu's former U.S. subsidiary) and Eckerd Corporation, remain active in-name-only subsidiaries of Rite Aid, despite the conversions of Brooks and Eckerd to Rite Aid and Coutu's sale of its remaining shares in Rite Aid 10 years prior. [74]
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States. The combined company was formed in April 1994 when Los Angeles–based TCH Corporation, the parent company of Thrifty Corporation and Thrifty Drug Stores, Inc., acquired the Kmart subsidiary PayLess Drug Stores Northwest, Inc. [1] At the time ...
[8] [9] JCPenney merged its drug operations into Eckerd in 1997. [10] Many of the original Fay's Drugs locations that have not been closed in favor of stand-alone Eckerd stores (many now Rite Aid and Walgreens locations) still feature the familiar Fay's aisle and pharmacy formats that served as models for drug chains nationwide.
Also shown was a location of Thrift Drug's nominal successor (through Eckerd) and fellow Pennsylvania pharmacy, Rite Aid. Due to Rite Aid's connection to Thrift Drug through Eckerd, Rite Aid, as well as CVS which also purchased many Eckerd stores, accept JCPenney credit cards despite having otherwise had no corporate affiliation with JCPenney.
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