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Major pharmacy chains like Walgreens, CVS, and Rite Aid are closing hundreds of stores across the United States due to financial pressures, including declining profitability, lower insurance ...
[4] [5] [6] Auto Palace – A New England-based chain that had 112 stores in six states before it was acquired and rebranded by AutoZone in 1998 [7] [8] [9] Auto Works – Began in Michigan in 1976 by Perry Drug Stores and which grew mostly through acquisitions [10] [11] prior to being sold to Northern Automotive in 1988. [12]
In 1992, when the company had grown to over 300 stores and 25,000 employees, [6] Monus and his CFO Patrick Finn were accused of embezzlement: they had allegedly hidden losses and moved about $10 million (~$19.5 million in 2023) from Phar-Mor to the World Basketball League that Monus had founded.
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California has 8,015 pharmacies, the most of any state. Texas, Florida, New York, and Pennsylvania round out the top five states for pharmacy locations. [1] Nationwide, the number of community pharmacies increased by 6.3% between 2007-2015, and the number of pharmacies per 10,000 people (2.11) did not change.
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Additional closures continued, nearly fully eradicating the pharmacy's presence in Michigan and Ohio. [253] In September 2024, Rite Aid emerged from bankruptcy as a privately-owned company. [254] Rockport filed for bankruptcy in May 2018. The company that bought the company out of bankruptcy closed all 60 of its brick-and-mortar stores in July ...
Many pharmacy chains in the United States are owned and operated by regional supermarket brands, or national big-box store brands such as Walmart. These pharmacies are located within their larger chain stores. The three largest free-standing pharmacy chains in the United States are Walgreens, CVS, and Rite Aid.