Rite Aid, a well-known pharmacy and retail chain, has officially confirmed the closure of its store located at 230 S. Main St., Bellefontaine, location effective Wednesday, Sept. 27.
The decision to shutter this location comes as the company grapples with various challenges, including financial struggles and legal issues tied to the opioid crisis.
In a statement released by Rite Aid, the company cited the ongoing review of its store locations, emphasizing the importance of meeting the needs of customers, communities and overall business.
The decision to close a store is one that Rite Aid takes seriously, according to a statement released by a spokesperson, and it is based on multiple factors, including business strategy, lease and rent considerations, local business conditions and store performance.
“We review every neighborhood to ensure our customers will have access to health services, be it at Rite Aid or a nearby pharmacy, and we work to seamlessly transfer their prescriptions so there is no disruption of services. We also strive to transfer associates to other Rite Aid locations where possible,” said a spokesperson from Rite Aid.
As the closure date approaches, many customers have noted that the store’s shelves are becoming increasingly bare, and several brands and items are heavily discounted.
This store closure follows a series of challenges for Rite Aid, including a significant number of closures in 2021 and 2022 across the country. Forbes reported that in July, the company announced that its losses for fiscal year 2024 would be worse than initially forecasted, with a projected net loss ranging between $650 million and $680 million.
Last month, The Wall Street Journal reported that Rite Aid is preparing to declare Chapter 11 bankruptcy. Such a move would result in the suspension of more than 1,000 lawsuits related to accusations that the company contributed to the national opioid addiction crisis by oversupplying opiate painkillers. As of now, Rite Aid finds itself in significant debt, owing approximately $3.3 billion to lenders and bondholders, according to Forbes.
The closure of the Rite Aid store on south Main Street leaves only the Russells Point location in Logan County. Rite Aid assures its customers that it remains committed to providing essential healthcare services, even as it undergoes these significant changes in its business operations.
Customers and employees affected by this closure are encouraged to contact the store or visit the Rite Aid website for more information on prescription transfers and employee transition support.