MAHOPAC, N.Y.—Residents who pick up their prescriptions from Rite Aid in Carmel or Mahopac might want to start looking for a new pharmacy.
Rite Aid announced earlier this week that it will be closing or selling its 178 New York locations—including two in Carmel and one in Mahopac—as well as 16 other stores across the Hudson Valley, spanning Westchester, Putnam, Rockland, Orange, Dutchess, and Ulster counties, as the company begins Chapter 11 bankruptcy proceedings for the second time.
According to the release, Rite Aid is in “active discussions” with multiple potential buyers, though any stores or assets sold will no longer be owned or operated by Rite Aid. Over the next several months, all locations in the Hudson Valley will be closed or sold, with no new merchandise ordered.
Rite Aid, the release said, is “pursuing a strategic and value-maximizing sale process for substantially all of its assets. To facilitate this process, the Company and its subsidiaries commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey.”
During that process, Rite Aid customers can continue to access pharmacy services and products in stores and online, including prescriptions and immunizations. In connection with the sale process and court-supervised proceedings, “the company is working to facilitate a smooth transfer of customer prescriptions to other pharmacies. Rite Aid employees assisting with this process will continue to receive pay and benefits,” the release said.
Chief Executive Officer Matt Schroeder said for over six decades “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.”
He added that he is “forever grateful to our thousands of associates for their commitment to Rite Aid and its mission, and I thank our entire team – from store associates to corporate employees – for their dedication to our customers and our company. With their support, we have played a critical role in supporting the healthcare needs of countless Americans across the communities that we are honored to serve.”
Comments
No comments on this item Please log in to comment by clicking here