PHILADELPHIA — Rite Aid this month announced plans to close 53 more stores, adding to the roughly 200 it has shuttered since filing for Chapter 11 bankruptcy protection late last year. Officials with the retail pharmacy chain said decisions about which stores to close are based on factors including business strategy, lease and rent considerations,
PHILADELPHIA — Rite Aid plans to plans to close about 7% of its stores initially, as the drugstore chain makes its way through its Chapter 11 bankruptcy process. The company submitted a list of 154 stores in a court filing. Most of the chain’s stores are on the East and West Coasts, and the list reflects
NEW YORK — Expect the pace of store closures to pick up this year, thanks to the lingering effects of the COVID-19 pandemic. That’s the forecast from the 2020 US Store Closures Outlook report released on Tuesday by Coresight Research. The report updates Coresight Research’s previous estimate to reflect the impact of the coronavirus on
FRANKLIN, Tenn. — Store closings make headlines, but new research from IHL Group has found that for every retailer that is closing stores (on net) in 2019, more than five other chains are opening them. The study also found that the number of chains adding stores in 2019 has increased 56%, while the number of
MEMPHIS, Tenn. — Fred’s Inc. said Friday that it will close another 129 retail stores, leaving it with only about 80. The move is the latest in a series of store closings (including announcements in April and May) from the retailer, which had 568 stores in 15 states as recently as February, according to a
HOFFMAN ESTATES, Ill. — Liquidation sales are set to begin September 22 at the 64 underperforming Kmart stores in the United States that parent Sears Holdings Corp. plans to shutter by mid-December. Earlier this year Sears’ eliminated 68 Kmarts and 10 Sears stores in response to slumping sales. This latest round of closings, first reported
BENTONVILLE, Ark. — Walmart on Friday announced plans to close 269 stores worldwide, including all 102 of its small-format Walmart Express stores in the United States. The company said the move is a result of a review of the nearly 11,600 stores in its global portfolio. That review, announced in October, was intended to ensure