Financial Fallout: Bankrupt Pharmacy Chain to Close Twenty-Two Locations Across New York

Ash Jurberg

New York Communities Brace for Impact as Bankruptcy Forces Closure of Twenty-Two Pharmacies

Bankrupt pharmacy chain Rite Aid continues to close locations across the United States, and unfortunately for residents of New York, it has been one of the states most impacted.

Last month, Rite Aid filed for bankruptcy after incurring $ 3.3 billion in unpaid debt. Over the past six years, Rite Aid has recorded almost $3 billion in losses and seen its stock price drop 90%.

Rite Aid operates over 2,330 stores in 17 U.S. states, but this number is rapidly declining and will soon drop below 2000. In October, as part of its bankruptcy filing, it announced that 154 locations nationwide would soon close, but this list has been added to several times and has now reached approximately 230.

Of these, a massive thirty-three locations are in New York.

Rite Aid stores in New York Closing

The initial list had these nineteen locations.

  • Brooklyn: 2981 Ocean Avenue, 2002 Avenue U
  • Oceanside: 3199 Long Beach Road
  • Valley Stream: 198 West Merrick Road
  • Bay Shore: 836 Sunrise Highway
  • Bellmore: 2784 Sunrise Highway
  • Copiague: 901 Merrick Road
  • East Northport: 577 Larkfield Road
  • Huntington Station: 695 East Jericho Turnpike
  • Medford: 700-43 Patchogue-Yaphank Road
  • Oyster Bay: 273 Pine Hollow Road
  • West Patchogue: 397 Sunrise Highway
  • Port Jeff Station: 593 Old Town Road
  • Smithtown: 65 Route 11
  • Kenmore: 2453 Elmwood Avenue
  • Rochester: 1567 Penfield Road
  • Cheektowaga: 2887 Harlem Road
  • Floral Park: 2 Whitney Avenue
  • Flushing: 71-18 Kissena Boulevard
  • Levittown: 3131 Hempstead Turnpike

Since the initial filing, three more locations in New York have been added

  • Fairport: 6720 Pittsford-Palmyra Rd
  • Miller Place: 335 Route 25A
  • Bronx: 5825-35 Broadway

Rite Aid isn't the only pharmacy chain closing locations.

CBS News reports, "CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores by 2024. Walgreens said in 2019 it would close 200 stores and in June announced an additional 150 store closures."

Your thoughts

Do these closures impact you? Are you concerned about the future of the Rite Aid business? Do you fear too many retail stores are closing?

Please leave your thoughts in the comments section below and share this article with others so more people can join the discussion.

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