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Area Rite Aid Stores Winding Down Operations - All Are Set To Close
- buildingdelmarva
- 6 days ago
- 2 min read
Not "new" news by any means, but for the few remaining Rite Aid stores - the end is near. Signs went up at one of two Smyrna Rite Aid locations recently. I paid a visit to the one located on E. Glenwood Avenue in Smyrna and found liquidation sales in progress.
On May 5th, Rite Aid announced it filed for Chapter 11 and would sell all of its assets. They have secured A&G Real Estate Partners to handle the sales of their more than 1200 retail leases, properties and distribution centers.
Rite Aid has been closing stores for at least the past 10 years. Around 2016, Walgreens offered to buy all of their locations, but the deal fell through because of pushback from US Regulators. In our coverage area, 6 stores currently remain. One in Middletown, two in Smyrna, two in Dover and one in Camden.
With the closure of all stores, this will leave prime retail spaces available for other buyers. Many Rite Aid locations are positioned in high traffic areas. We have seen former Rite Aid's become Dollar Generals, Family Dollars, Advanced Auto Parts and Auto Zones. The former Rite Aid in Harrington is becoming a DG Market.
Many customers were informed last month about moving their prescriptions to an alternate pharmacy. Will the closure of Rite Aid boost traffic for Walgreens or your local pharmacy? Or will you resort to online pharmacies, such as WalMart or Amazon? Leave us a comment on our socials to let us know!
