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RiteAid to Close 42 More New Jersey Stores
By TONY GALLOTTO,
16 hours ago
The Rite Aid store at 366 George St. in downtown New Brunswick, NJ Credits: FILE PHOTO/GOOGLE
PHILADELPHIA — Pharmaceutical retailer Rite Aid is closing 42 more of its New Jersey stores, among 699 nationwide being shuttered after the company filed for bankruptcy in October 2023.
Among the New Jersey locations to close are two in Middlesex County, at 366 George St. in downtown New Brunswick and at 841 Georges Road in North Brunswick.
Rite Aid has been scaling back for a while. The company sold 1,932 Rite Aid stores to Walgreens in 2018, including 120 New Jersey locations.
In Middlesex County, Rite Aid stores were converted to Walgreens stores in at least four communities: Monroe, Old Bridge, South River, and Spotswood. The Rite Aid store in Carteret, among others in the county, was permanently closed.
Rite Aid filed for Chapter 11 bankruptcy to begin restructuring that would significantly reduce the company’s $2 billion debt.
U.S. Bankruptcy Judge Michael Kaplan, presiding in Trenton, approved Rite Aid’s bankruptcy plan in June. Rite Aid plans to emerge from bankruptcy with $2.55 billion in financing from its lenders, according to Reuters, Rite Aid posted a restructuring statement on its website.
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