Workers Fear Rite Aid Stores in Binghamton and Endwell Will Close
Customers of Rite Aid pharmacy locations in Broome County are preparing for the possible closure of the stores.
The Philadelphia-based Rite Aid Corporation has been dealing with serious financial issues and has been discussing a potential bankruptcy plan with its creditors.
The Wall Street Journal reported Rite Aid was considering closing up to 500 stores with an eye toward selling them or allowing creditors to take over the operations.
According to the Rite Aid website, the company now has 241 stores across New York state. It has locations on Conklin Avenue on Binghamton's South Side and on Hooper Road in Endwell.
Employees at the Broome County stores say they are waiting to learn the fate of their locations. But they say they believe its likely the local stores soon will be closed.
Walgreens acquired about 1,900 Rite Aid stores in 2018, including several in Broome and Tioga counties.
Since then, Rite Aid has been in the process of shutting down underperforming stores. A Rite Aid retail operation in the Campus Plaza in Vestal was closed in June 2019. The move happened after the store's pharmacy had been converted into a Walgreens unit. The non-pharmacy section of the store was still branded as "Rite Aid" at the time of the closing.
In an email sent late Friday, a Rite Aid spokesperson told WNBF News: "There are no plans to close these locations." But the company's situation continues to change as it was advised that it faces delisting by the New York Stock Exchange.
Several chain and independent pharmacies in Broome and Tioga counties have closed over the past few years. CVS has shut down three Binghamton stores and one Johnson City location as part of an ongoing effort to eliminate poorly-performing units.
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