XPost: talk.politics.misc, alt.politics.usa

https://www.dailymail.co.uk/yourmoney/article-13684099/national-drugstore-shut-stores-ohio-michigan-bankruptcy-rite-aid.html

Rite Aid has now closed 772 stores since October 2023,
representing over a third of the roughly 2,000 locations
it operated before it fell into bankruptcy.

Michigan and Ohio are the worst hit - with an astonishing
three in four Rite Aids in the two states now shut.

In the past month alone, the troubled drugstore has closed
189 shops across the neighboring Midwest swing states. Locals
fear the chain is readying itself to totally leave the area.

After filing for Chapter 11 bankruptcy protection in October,
Rite Aid announced it would initially shutter 154 underperforming
stores across a dozen states. In the nine months since then, it
has shut an additional 618.

. . .

There's pretty good money in drugstores ... so
I'm guessing a MAJOR management failure. Boomers
built it up, Gen-Y/Z destroyed it. Seems to be
a rather common theme these days ....

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.politics.usa

On 7/30/2024 6:12 PM, 186282@ud0s4.net wrote:

https://www.dailymail.co.uk/yourmoney/article-13684099/national-drugstore-shut-stores-ohio-michigan-bankruptcy-rite-aid.html

Rite Aid has now closed 772 stores since October 2023,
representing over a third of the roughly 2,000 locations
it operated before it fell into bankruptcy.

Michigan and Ohio are the worst hit -  with an astonishing
three in four Rite Aids in the two states now shut.

In the past month alone, the troubled drugstore has closed
189 shops across the neighboring Midwest swing states. Locals
fear the chain is readying itself to totally leave the area.

After filing for Chapter 11 bankruptcy protection in October,
Rite Aid announced it would initially shutter 154 underperforming
stores across a dozen states. In the nine months since then, it
has shut an additional 618.

. . .

  There's pretty good money in drugstores ... so
  I'm guessing a MAJOR management failure. Boomers
  built it up, Gen-Y/Z destroyed it. Seems to be
  a rather common theme these days ....

There are actually a number of reasons businesses fail. Red Lobster, for instance, was bought by a scavenger firm that sold all their properties
out from under them and then sold what was left to a buyer who didn't
fully understand the crippling blow that was. When the stores had to
start paying rent on their old locations, the business traffic wouldn't
support it and they went under.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)