Latest news with #MattSchroeder
Yahoo
30-05-2025
- Business
- Yahoo
Rite Aid Thrifty Ice Cream brand faces closure amid bankruptcy
( spring comes to an end and summer approaches in Northern California, over 500 Rite Aid's popular brand Thrifty Ice Cream is set to close down as part of its bankruptcy, which was filed again on May 5. Over 347 stores are located in California, and a couple of them are just in your neighborhood. Here's a list of some Rite Aid stores in Northern California. 2751 Del Paso Road, Sacramento 1260 West Capitol Avenue, West Sacramento 4774 West Lane, Stockton 720 Sutton Way, Grass Valley The popular ice cream started in 1940 at a small factory in West Hollywood, according to the Thrifty website. After a while, Angelenos headed to the flagship Thrifty Drug Store in downtown Los Angeles for a chance to sample the ice cream from the soda fountain. 'The high-quality, small-batch ice cream even snagged awards from the L.A. County Fair,' Thrifty officials said. In the 1970s, the ice cream had attained its status along the West Coast, with many celebrities giving it a shoutout. In 1967, the company moved to a larger factory in El Monte, and it stands today for people to come in and enjoy a scoop of ice cream. Thrifty has been known for its signature scoop, which is cylindrical, and on top of many flavors, they have available for people to purchase. No information has been released on when customers can expect these closures nationally and locally. Matt Schroeder, Chief Executive Officer of Rite Aid, said, 'For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers. While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
29-05-2025
- Business
- Yahoo
CVS, Walgreens and Rite Aid are all set to close stores. Hundreds have already shuttered.
It has been a rough stretch for large pharmacy chains. CVS, Walgreens and Rite Aid are all in the midst of mass closures, and Rite Aid recently filed for bankruptcy for the second time in as many years. Mass closures extend beyond the retail pharmacy space, however, as other companies such as Forever 21, Joann, Macy's, Denny's, Bahama Breeze and more have announced locations would shutter this year. Here's the latest on pharmacy chains CVS, Walgreens and Rite Aid, including how many stores each company is planning to close. Rite Aid announced it had filed for Chapter 11 bankruptcy again on May 5, the second time since October 2023. Bankruptcy filings have identified 316 store locations Rite Aid has tapped for closure. On May 15, Rite Aid said it "successfully entered into a series of sale agreements and pharmacy services transition agreements," which would include transitioning pharmacy assets from locations across the U.S. to CVS Pharmacy, Walgreens, Albertsons, Kroger, Giant Eagle and other operators. Rite Aid and Bartell Drugs stores in some states will also be operated by CVS Pharmacy as part of the sale agreements, which were approved on May 21 in the U.S. Bankruptcy Court of New Jersey, according to Rite Aid's bankruptcy docket. During the transition of prescription files, Rite Aid said its stores will remain open and customers can continue to access their pharmacy services, including prescription refills and immunizations. Before the bankruptcy filing, Rite Aid operated 1,240 stores across 15 states. 'A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption," Matt Schroeder, CEO of Rite Aid, said in a statement. "These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.' Rite Aid has buyers for customer files at 810 of its stores, but did not find a buyer for files at 200 other locations, according to Reuters. While the deadline to enter bids for Rite Aid's pharmacy assets (May 13) has passed, the deadline to enter bids for the chain's remaining assets, including the Thrifty Ice Cream business, is June 13, with an auction date set for June 20. Rite Aid closures: More than 300 Rite Aid stores now slated to close: Here's the complete list Walgreens Boots Alliance announced in October 2024 its plans to close approximately 1,200 stores across the United States as the pharmacy chain struggles with slumping consumer spending. At the time, the chain said the closures would occur within three years, starting with about 500 stores being shuttered in fiscal year 2025, which ends in August. The move is part of a multi-year cost-cutting program under CEO Tim Wentworth, who took on the job in 2023. In a statement in October 2024, Wentworth reiterated the company's commitment to focusing on improving its core business: retail pharmacy. "This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term," Wentworth said in the statement. The company closed 70 stores in its first quarter of fiscal 2025, which ended Nov. 30, 2024, Wentworth said in a January 2025 analyst conference call. Walgreens planned to close about another 450 stores through the end of 2025 he said. In March 2025, Walgreens was taken private by Sycamore Partners for $10 billion, closing out nearly a century of trading on public markets for the U.S. pharmacy giant. Sycamore Partners, a private equity firm that specializes in retail and consumer investments, has a track record of acquiring distressed retailers for profit: among them were brands such as Staples, Talbots and Nine West, according to Reuters. CVS first announced in November 2021 its plan to close stores as part of an effort to "optimize our existing stores and pharmacies." The chain closed 900 stores between 2022 and 2024 and aims to close an additional 270 stores in 2025, company spokesperson Amy Thibault confirmed to USA TODAY on May 29. The spokesperson said in an emailed statement that the company is closing locations "strategically to better meet consumers' health, wellness and pharmacy care needs" and not in reaction to "industry pressures." Additionally, even while it closes certain locations, Thibault said CVS is also opening stores and pharmacies in "areas where there's a need." The company has opened 100 stores between 2022 and 2024, and has plans to open nearly 30 locations, including locations inside Target stores, in 2025. Contributing: Eric Lagatta, Jonathan Limehouse, Mary Walrath-Holdridge, James Powel and Mike Snider, USA TODAY Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@ This article originally appeared on USA TODAY: CVS, Walgreens, Rite Aid store closures: Hundreds already shuttered
Yahoo
29-05-2025
- Business
- Yahoo
CVS, Walgreens and Rite Aid are all set to close stores. Hundreds have already shuttered.
It has been a rough stretch for large pharmacy chains. CVS, Walgreens and Rite Aid are all in the midst of mass closures, and Rite Aid recently filed for bankruptcy for the second time in as many years. Mass closures extend beyond the retail pharmacy space, however, as other companies such as Forever 21, Joann, Macy's, Denny's, Bahama Breeze and more have announced locations would shutter this year. Here's the latest on pharmacy chains CVS, Walgreens and Rite Aid, including how many stores each company is planning to close. Rite Aid announced it had filed for Chapter 11 bankruptcy again on May 5, the second time since October 2023. Bankruptcy filings have identified 316 store locations Rite Aid has tapped for closure. On May 15, Rite Aid said it "successfully entered into a series of sale agreements and pharmacy services transition agreements," which would include transitioning pharmacy assets from locations across the U.S. to CVS Pharmacy, Walgreens, Albertsons, Kroger, Giant Eagle and other operators. Rite Aid and Bartell Drugs stores in some states will also be operated by CVS Pharmacy as part of the sale agreements, which were approved on May 21 in the U.S. Bankruptcy Court of New Jersey, according to Rite Aid's bankruptcy docket. During the transition of prescription files, Rite Aid said its stores will remain open and customers can continue to access their pharmacy services, including prescription refills and immunizations. Before the bankruptcy filing, Rite Aid operated 1,240 stores across 15 states. 'A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption," Matt Schroeder, CEO of Rite Aid, said in a statement. "These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.' Rite Aid has buyers for customer files at 810 of its stores, but did not find a buyer for files at 200 other locations, according to Reuters. While the deadline to enter bids for Rite Aid's pharmacy assets (May 13) has passed, the deadline to enter bids for the chain's remaining assets, including the Thrifty Ice Cream business, is June 13, with an auction date set for June 20. Rite Aid closures: More than 300 Rite Aid stores now slated to close: Here's the complete list Walgreens Boots Alliance announced in October 2024 its plans to close approximately 1,200 stores across the United States as the pharmacy chain struggles with slumping consumer spending. At the time, the chain said the closures would occur within three years, starting with about 500 stores being shuttered in fiscal year 2025, which ends in August. The move is part of a multi-year cost-cutting program under CEO Tim Wentworth, who took on the job in 2023. In a statement in October 2024, Wentworth reiterated the company's commitment to focusing on improving its core business: retail pharmacy. "This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term," Wentworth said in the statement. The company closed 70 stores in its first quarter of fiscal 2025, which ended Nov. 30, 2024, Wentworth said in a January 2025 analyst conference call. Walgreens planned to close about another 450 stores through the end of 2025 he said. In March 2025, Walgreens was taken private by Sycamore Partners for $10 billion, closing out nearly a century of trading on public markets for the U.S. pharmacy giant. Sycamore Partners, a private equity firm that specializes in retail and consumer investments, has a track record of acquiring distressed retailers for profit: among them were brands such as Staples, Talbots and Nine West, according to Reuters. CVS first announced in November 2021 its plan to close stores as part of an effort to "optimize our existing stores and pharmacies." The chain closed 900 stores between 2022 and 2024 and aims to close an additional 270 stores in 2025, company spokesperson Amy Thibault confirmed to USA TODAY on May 29. The spokesperson said in an emailed statement that the company is closing locations "strategically to better meet consumers' health, wellness and pharmacy care needs" and not in reaction to "industry pressures." Additionally, even while it closes certain locations, Thibault said CVS is also opening stores and pharmacies in "areas where there's a need." The company has opened 100 stores between 2022 and 2024, and has plans to open nearly 30 locations, including locations inside Target stores, in 2025. Contributing: Eric Lagatta, Jonathan Limehouse, Mary Walrath-Holdridge, James Powel and Mike Snider, USA TODAY Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@ This article originally appeared on USA TODAY: CVS, Walgreens, Rite Aid store closures: Hundreds already shuttered Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
29-05-2025
- Business
- USA Today
CVS, Walgreens and Rite Aid are all set to close stores. Hundreds have already shuttered.
CVS, Walgreens and Rite Aid are all set to close stores. Hundreds have already shuttered. Show Caption Hide Caption Rite Aid's 'comeback story' cut short as pharmacy chain files for bankruptcy again After closing hundreds of stores and facing ongoing challenges, Rite Aid looks for a buyer while preparing to sell its remaining inventory and essential assets. Scripps News It has been a rough stretch for large pharmacy chains. CVS, Walgreens and Rite Aid are all in the midst of mass closures, and Rite Aid recently filed for bankruptcy for the second time in as many years. Mass closures extend beyond the retail pharmacy space, however, as other companies such as Forever 21, Joann, Macy's, Denny's, Bahama Breeze and more have announced locations would shutter this year. Here's the latest on pharmacy chains CVS, Walgreens and Rite Aid, including how many stores each company is planning to close. How many Rite Aid stores are closing? Rite Aid announced it had filed for Chapter 11 bankruptcy again on May 5, the second time since October 2023. Bankruptcy filings have identified 316 store locations Rite Aid has tapped for closure. On May 15, Rite Aid said it "successfully entered into a series of sale agreements and pharmacy services transition agreements," which would include transitioning pharmacy assets from locations across the U.S. to CVS Pharmacy, Walgreens, Albertsons, Kroger, Giant Eagle and other operators. Rite Aid and Bartell Drugs stores in some states will also be operated by CVS Pharmacy as part of the sale agreements, which were approved on May 21 in the U.S. Bankruptcy Court of New Jersey, according to Rite Aid's bankruptcy docket. During the transition of prescription files, Rite Aid said its stores will remain open and customers can continue to access their pharmacy services, including prescription refills and immunizations. Before the bankruptcy filing, Rite Aid operated 1,240 stores across 15 states. 'A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption," Matt Schroeder, CEO of Rite Aid, said in a statement. "These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.' Rite Aid has buyers for customer files at 810 of its stores, but did not find a buyer for files at 200 other locations, according to Reuters. While the deadline to enter bids for Rite Aid's pharmacy assets (May 13) has passed, the deadline to enter bids for the chain's remaining assets, including the Thrifty Ice Cream business, is June 13, with an auction date set for June 20. Rite Aid closures: More than 300 Rite Aid stores now slated to close: Here's the complete list How many Walgreens stores are closing? Walgreens Boots Alliance announced in October 2024 its plans to close approximately 1,200 stores across the United States as the pharmacy chain struggles with slumping consumer spending. At the time, the chain said the closures would occur within three years, starting with about 500 stores being shuttered in fiscal year 2025, which ends in August. The move is part of a multi-year cost-cutting program under CEO Tim Wentworth, who took on the job in 2023. In a statement in October 2024, Wentworth reiterated the company's commitment to focusing on improving its core business: retail pharmacy. "This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term," Wentworth said in the statement. The company closed 70 stores in its first quarter of fiscal 2025, which ended Nov. 30, 2024, Wentworth said in a January 2025 analyst conference call. Walgreens planned to close about another 450 stores through the end of 2025 he said. In March 2025, Walgreens was taken private by Sycamore Partners for $10 billion, closing out nearly a century of trading on public markets for the U.S. pharmacy giant. Sycamore Partners, a private equity firm that specializes in retail and consumer investments, has a track record of acquiring distressed retailers for profit: among them were brands such as Staples, Talbots and Nine West, according to Reuters. How many CVS stores are closing? CVS first announced in November 2021 its plan to close stores as part of an effort to "optimize our existing stores and pharmacies." The chain closed 900 stores between 2022 and 2024 and aims to close an additional 270 stores in 2025, company spokesperson Amy Thibault confirmed to USA TODAY on May 29. The spokesperson said in an emailed statement that the company is closing locations "strategically to better meet consumers' health, wellness and pharmacy care needs" and not in reaction to "industry pressures." Additionally, even while it closes certain locations, Thibault said CVS is also opening stores and pharmacies in "areas where there's a need." The company has opened 100 stores between 2022 and 2024, and has plans to open nearly 30 locations, including locations inside Target stores, in 2025. Contributing: Eric Lagatta, Jonathan Limehouse, Mary Walrath-Holdridge, James Powel and Mike Snider, USA TODAY Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@
Yahoo
29-05-2025
- Business
- Yahoo
Dozens of Rite Aid stores, prescription files set to transfer to CVS, other pharmacies
A remedy for thousands of patients worried about their prescriptions with the now-bankrupt pharmacy chain Rite Aid has been approved in federal court. A New Jersey judge ruled that the Rx files will transition to CVS Health, Walgreens and other pharmacies and various grocers. Rite Aid, which previously filed for Chapter 11 bankruptcy and announced the closure of over 100 stores, said on May 15 it "successfully entered into a series of sale agreements and pharmacy services transition agreements." The sale agreements were approved on May 21 in the U.S. Bankruptcy Court of New Jersey, according to Rite Aid's bankruptcy docket. The sale agreements include transitioning pharmacy assets from more than 1,000 Rite Aid locations across the U.S. to CVS Pharmacy, Walgreens, Albertsons, Kroger, Giant Eagle and other operators. Additionally, many Rite Aid and Bartell Drugs stores in Washington state, Oregon and Idaho will be operated by CVS Pharmacy as a part of the sale agreements. During the transition of prescription files, Rite Aid said its stores will remain open and customers can continue to access their pharmacy services, including prescription refills and immunizations. Before the bankruptcy filing, Rite Aid operated 1,240 stores across 15 states. 'A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption," Matt Schroeder, CEO of Rite Aid, said in a statement. "These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.' CVS Pharmacy announced the approvals on May 21 for its bids on the prescription files of 625 Rite Aid pharmacies across 15 states, as well as 64 Rite Aid stores in Idaho, Oregon and Washington state. The Woonsocket, Rhode Island-headquartered retail pharmacy chain said additional details on the acquisitions will be available closer to the transaction closing dates in the coming weeks. "We're well-positioned to serve our existing customers and patients, as well as those who may be transitioning to us from Rite Aid and are excited to introduce them to our best-in-class front store and pharmacy offerings, upon the closings of the transactions," CVS Pharmacy said in a statement. CVS said it aims for the transition of prescriptions to be "seamless for patients and customers." The pharmacy noted sale transactions are 'subject to applicable regulatory approvals and other customary closing conditions." Walgreens reached an agreement to take on prescription files from certain Rite Aid pharmacy locations in nine states, a company spokesperson said in a statement to USA TODAY on May 22, adding that the deal was subject to closing conditions. The acquisition comes as Walgreens in the midst of its own wave of store closures. The pharmacy chain said it would close about 500 locations in fiscal year, part of a three-year effort to shutter roughly 1,200 underperforming stores. "This path forward strengthens our ability to meet the needs of the patients and communities we serve," the spokesperson told USA TODAY. After filing for bankruptcy for the second time in less than two years, Rite Aid continues move through Chapter 11 proceedings. "As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible," Schroeder said when Rite Aid announced the bankruptcy filing. Rite Aid has buyers for customer files at 810 of its stores, but did not find a buyer for files at 200 other locations, according to Reuters. While the deadline to enter bids for Rite Aid's pharmacy assets (May 13) has passed, the deadline to enter bids for the chain's remaining assets, including the Thrifty Ice Cream business, is June 13, with an auction date set for June 20. Contributing: James Powel, USA TODAY; Reuters Jonathan Limehouse covers breaking and trending news for USA TODAY. Reach him at JLimehouse@ This article originally appeared on USA TODAY: Rite Aid stores, prescription files shifting to CVS, Walgreens, more
