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Many of those soon-to-be-closed locations are presumably part of the 1,932 Rite Aid stores Walgreens bought in 2018 in a $5.2 billion consolation prize deal after failing to buy its smaller rival ...
In fact, some of these purchases are actually good deals at stores such as CVS, Walgreens and Rite Aid. Rite Aid, CVS and Walgreens are probably top-of-mind when it comes to convenience.
Walgreens ultimately sold almost 2,000 stores, and Rite Aid unsuccessfully pursued other deals to stabilize its business. The company had $3.3 billion in long-term debt as of June 3.
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And Rite Aid filed for bankruptcy last year and will close up to 500 stores. Shifting trends Drug store chains are struggling because of falling reimbursement rates for prescription drugs ...
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