Skip to content
Business
Link copied to clipboard
Link copied to clipboard

Another Center City Rite Aid is closing as the company continues to downsize amid bankruptcy

Rite Aids in Doylestown, Warrington, Phoenixville, Salem and Medford are also closed or will be closing.

A Rite Aid at 7401 Ogontz Ave., pictured in 2021, remains open amid the Philly-based company's ongoing bankruptcy. Rite Aid is closing more pharmacies including one in Center City on Chestnut Street.
A Rite Aid at 7401 Ogontz Ave., pictured in 2021, remains open amid the Philly-based company's ongoing bankruptcy. Rite Aid is closing more pharmacies including one in Center City on Chestnut Street.Read moreJESSICA GRIFFIN / Staff Photographer

Center City is losing a Rite Aid. The pharmacy at 1628-36 Chestnut St. will close Thursday, according to Catherine Carter, public relations manager for the company. This closure is another downsizing measure taken by the pharmacy chain headquartered at Philadelphia’s Navy Yard amid its Chapter 11 bankruptcy.

Rite Aid currently operates 1,813 locations across the country, according to its website. The company had more than 2,000 stores when it filed for bankruptcy in October, per the Philadelphia Business Journal.

“In connection with the court-supervised process, we notified the court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance,” the company said in a statement shared with The Inquirer.

Rite Aid’s leases and properties are for sale in 16 states, according to A&G Real Estate Partners, which is managing the sales. The list was recently updated to include the following Philadelphia-area locations:

  1. 1628-36 Chestnut St., Philadelphia

  2. 642 Easton Rd., Warrington

  3. Taunton Boulevard and Tuckerton Road, Medford, N.J.

  4. 435 E. Broadway, Salem, N.J.

  5. 472 N. Main St., Doylestown

  6. 200 Kimberton Rd., Phoenixville

Store properties or leases that are listed for sale have either already closed or will be closing, according to Mike Matlat, senior managing director at A&G Real Estate Partners.

More Rite Aid stores closed in Philadelphia in Nov. and Dec. Those include: 11750 Bustleton Ave.; 6101 N. Broad St.; 2121 W. Lehigh Ave.; 810 S. Broad St.

In December, the company announced three more store closures in the Philadelphia region. At the time, a spokesperson for the company said around 75% of employees affected by store closures had accepted opportunities to transfer to new positions within the company. The company also said it was working to transfer customer prescriptions to other pharmacies.

Rite Aid is facing $4 billion in debt and over 1,600 lawsuits related to opioid prescriptions, according to company filings. Rite Aid also had long-term leases for stores that are no longer profitable.

The complete list of Rite Aid store leases or properties for sale or recently sold in Pennsylvania and New Jersey as of Jan. 5:

Pennsylvania

  1. 104 E. Third St., Bethlehem

  2. 472 N. Main St., Doylestown

  3. 39 West Side Mall, Edwardsville

  4. 621 Clay Ave., Jeannette

  5. 105 Old York Road, New Cumberland

  6. 136 North 63rd St., Philadelphia

  7. 1628-36 Chestnut St., Philadelphia

  8. 2545 Aramingo Ave., Philadelphia

  9. 3000-02 Reed St., Philadelphia

  10. 3260 N. Broad St., Philadelphia

  11. 7941 Oxford Ave., Philadelphia

  12. 200 Kimberton Road, Phoenixville

  13. 10 S. Center St., Pottsville

  14. 425 Spruce St., Scranton

  15. 642 Easton Rd., Warrington

  16. 927 Paoli Pike, West Chester

  17. SR 940 and Main Street, White Haven

  18. 14 Fifth St., Williamsport

New Jersey

  1. 37 Juliustown Rd., Browns Mills

  2. 1426 Mt. Ephraim Ave., Camden

  3. Taunton Boulevard and Tuckerton Road, Medford

  4. 121 W. Main St., Moorestown

  5. 435 East Broadway, Salem