On January 30th Rite Aid bankruptcy documents show another 17 locations are closing (In-process) including three in New Jersey. Two South Jersey locations are in the mix; Blackwood-Clementon Road Gloucester Township, and Cuthbert Boulevard Haddon Township.
A third New Jersey location is in Newark.
I stopped at the Blackwood-Clementon location yesterday to find that all of the “Entire Store Closing” signage and discount sales announcements were already in place.
Longtime South Jersey residents will remember that the Haddon Twp Rite Aid was originally the home to Compton’s Log Cabin Restaurant, which was one of South Jersey’s iconic destination restaurants.
This latest Rite Aid closing list includes 17 newly announced closing locations, which as of this evening 42Freeway may be the only media outlet publishing them.
- 236: 1360 BLACKWOOD CLEMENTON RD. CLEMENTON NJ 08021
- 687: 249 CUTHBERT BOULEVARD HADDON TOWNSHIP NJ 08107
- 10402: 104 12TH AVENUE NEWARK NJ 07107
- 6914: 1820 N 45TH ST SEATTLE WA 98103
- 11259: 1517 HOLLAND ROAD SUFFOLK VA 23434
- 597: 40 VASSAR ROAD POUGHKEEPSIE NY 12603
- 5693: 2025 EAST WASHINGTON STREET COLTON CA 92324
- 3980: 1179 EAST 233RD STREET BRONX NY 10466
- 866: 501 SOUTH 29TH ST STE A HARRISBURG PA 17104
- 1511: 2474 BAILEY AVENUE BUFFALO NY 14215
- 5861: 4224 EAST SHIELDS AVENUE FRESNO CA 93726
- 1071: 60 SOUTH WATER STREET SHARON PA 16146
- 5455: 11750 WILMINGTON AVENUE LOS ANGELES CA 90059
- 5586: 9650 BASELINE ROAD RANCHO CUCAMONGA CA 91701
- 5763: 17904 MAGNOLIA STREET FOUNTAIN VALLEY CA 92708
- 6438: 39782 WINCHESTER ROAD TEMECULA CA 92591
- 10548: 47 EAST PROSPECT AVENUE MOUNT VERNON NY 10550
Blackwood-Clementon : Store Closing Signage Up
Store Closing signage for the Blackwood-Clementon Rite Aid went up yesterday afternoon, and I stopped in today to see that the “Everything Must Go” store discounts have already started.
Rite Aid in Blackwood-Clementon is promoting a 5 to 30% discount on all items. In my unofficial review most items seem to be around the 10% discount right now, although it appears they had just recently stocked up on Valentine’s Day items and they are all at 30% off.
I think most are familiar with these Store Closing sales in that over time the discounts typically increase, while at the same time inventory reduces… so those looking for a deal on top items need to time things properly.
I did not have a chance to stop over at the Haddon Township location but I can see they are listed on the same store closing list as Blackwood-Clementon which I found in online documentation at Kroll.com (Claims agent for Rite Aid’s bankruptcy and restructuring)
For Gloucester Township this is a tough blow for local Rite Aid customers as the closing of the Blackwood-Clementon location means that Three of Five Gloucester Township Rite Aid locations have closed in recent years.
Locations still open are in Erial across from the Fire Hall (and new Wawa) and Chews Landing Rd close to the Township Municipal Building. With the Blackwood-Clementon location situated between those two, that may have factored into it being chosen to close.
Recently the Rite Aid in the old-Blackwood section of town on the Black Horse Pike had closed and remains empty.
Another Rite Aid in Gloucester Township on Cross Keys Road closed a few years ago (2019?). That building was approved to be converted into a Grocery Outlet store, and while not much has been happening there I’ve heard from some readers recently that activity has been taking place at that site. I will likely stop in tomorrow morning.
In October, 42Freeway wrote about the closing of four other South Jersey locations; Mullica Hill, Mantua, Williamstown and Lumberton. Twelve New Jersey locations in total had closed then.
Rite Aid Bankruptcy and Restructuring
Things are tough in the US pharmacy market in general but Rite Aid is really facing dire times, with a big part of those financial challenges stemming from opioid lawsuits which are impacting revenue.
Last fall Rite Aid filed for Chapter 11 bankruptcy and has been working with creditors and experts to restructure the business, which includes closing hundreds of underperforming stores. (AP News)
In fact, earlier today it was announced that Rite Aid completed the sale of its Elixir Pharmacy benefit management company for $575 million. A Forbes article states it was once described by Rite Aid executives as the company’s crown jewel for which they paid more than $2 billion for it in 2015
Another article at Yahoo.com (originally) published in Bloomberg states that:
Should the company fail to find a buyer willing to keep at least part of the chain open, senior lenders may take ownership of Rite Aid after the company sheds unprofitable stores, according to court documents. Without a sale or a deal with senior lenders, the company could be forced to liquidate.
Yahoo News quoting Steven Church; Bloomberg
Links and Locations
Rite Aid Stores Closing – New Jersey
Rite Aid Clementon (Gloucester Twp)
1360 BLACKWOOD CLEMENTON RD
CLEMENTON NJ 08021
Rite Aid Haddon Twp/Oaklyn
249 CUTHBERT BOULEVARD
HADDON TOWNSHIP NJ 08107
Rite Aid Newark
104 12TH AVENUE
NEWARK NJ 07107