The Briefing Room
General Category => Economy/Business => Topic started by: rangerrebew on August 26, 2023, 11:36:10 am
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This critical retailer could be on its way to bankruptcy
Story by Todd Campbell •
12h
It’s disappointing when beloved retail chains shut their doors forever. Shoppers enjoy visiting the same stores weekly, and it’s saddening when beloved retail chains like Bed Bath & Beyond or Christmas Tree Shops are forced to close their doors forever.
Fortunately, while these store closures are disruptive, consumers can quickly shift their spending to other retailers. But that’s not always true.
Sometimes, a retailer that serves an essential purpose is forced to declare bankruptcy protection. When that happens, shoppers can be left in the lurch, uncertain where to turn to get the needed items.
A dire situation is unfolding for this key retailer
Rite Aid (RAD) - Get Free Report is a retail store on the front lines of providing critical healthcare services to millions of Americans. Its 2,300 retail stores sell essential daily healthcare necessities from toothpaste to aspirin, and its pharmacies provide necessary medicines to many people who live within the 17 states in which its stores operate.
https://www.msn.com/en-us/money/companies/this-critical-retailer-could-be-on-its-way-to-bankruptcy/ar-AA1fN6jO?ocid=msedgdhp&pc=U531&cvid=5bc086afb0c042419e103db49275d26b&ei=26
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there were two Rite Aids in a 10 mile radius from me.
Both are now Walgreens, but this happened during the pandemic/
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What's a Rite Aid? I stopped going to them the day after they stopped being Thrifty's (which I had a good opinion of), the products they carried, quality and increased prices made them a no go. With Walgreens and CVS's every two or three miles, seemingly, I could get the same experience elsewhere. And if there was a Walmart nearby...cheaper. If people are dependent on a Rite Aid for their medications, cheap goods and alcohol :shrug: sorry, but that's the nature of business and apparently there aren't a lot of people that still shop at the place.
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I visited one out west a few months ago, and had heck self checking out, and no clerk was available for questions.
Left the stuff on the counter, and went and found a Walgreens.
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Rite-Aid has been careening towards bankruptcy for over 20 years.
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Back in the 80's there were about ten regional dug chains that were very successful and community based with loyal followings. Names I remeber were; Jack Eckerd (Tampa'St. Pete HQ) Big B. Drugs (birmingham HQ) Revco BFE Ohio HQ) Gray Drug (also Ohio HQ) K7B Drug in (NOLA) and a few more up north I never called on. But then came the mergers and buy-outs and we are left with the shit show caused by among others CVS and Rite-aid.
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I visited one out west a few months ago, and had heck self checking out, and no clerk was available for questions.
Left the stuff on the counter, and went and found a Walgreens.
CVS doesn't have clerks, either.
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Back in the 80's there were about ten regional dug chains that were very successful and community based with loyal followings. Names I remeber were; Jack Eckerd (Tampa'St. Pete HQ) Big B. Drugs (birmingham HQ) Revco BFE Ohio HQ) Gray Drug (also Ohio HQ) K7B Drug in (NOLA) and a few more up north I never called on. But then came the mergers and buy-outs and we are left with the shit show caused by among others CVS and Rite-aid.
Sadly, our locally famous Butt Drugs is also closing soon.
http://www.youtube.com/watch?v=oYYdF0zcuSI
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Sadly, our locally famous Butt Drugs is also closing soon.
http://www.youtube.com/watch?v=oYYdF0zcuSI
:pondering: Butt drugs? Sounds like a highly specialized retailer.
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:pondering: Butt drugs? Sounds like a highly specialized retailer.
:silly:
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:pondering: Butt drugs? Sounds like a highly specialized retailer.
A niche market?