The downtown Springfield Rite Aid store will close its doors at the end of the month, a result of a “variety of factors.”
According to a corporate spokesperson, the store at 401 W. North St. will close on Sept. 28. The spokesperson did not give a specific reason for this closure but said the company reviews each store regularly to make sure it is “meeting the needs of our customer, communities and overall business.”
“A decision to close a store is one we take very seriously and is based on a variety of factors including business strategy, lease and rent considerations, local business conditions and viability and store performance,” the spokesperson said.
Rite Aid will work to transfer customers’ prescriptions to other pharmacies, whether they go to Rite Aid or other companies, the spokesperson said.
The company will also work to transfer its employees to other store locations “where possible,” the spokesperson said.
Many of the store’s shelves are bare, and several brands and items are heavily discounted preceding the closing date this month.
This will leave the Rite Aid at 1805 S. Limestone St. as the company’s only Springfield location. There are 188 Rite Aid stores in Ohio and 2,123 nationwide, according to the company’s website.
This closure follows 145 others from 2021 through 2022 across the country, according to Forbes. In July, the company said losses for fiscal year 2024 would be worse than it had forecast in June, with a net loss expected between $650 million and $680 million.
The Wall Street Journal reported last month that the company is preparing to declare Chapter 11 bankruptcy, which would pause more than 1,000 lawsuits related to accusations that Rite Aid contributed to the national opioid addiction crisis by oversupplying opiate painkillers. The company is currently in $3.3 billion of debt to lenders and bondholders, according to Forbes.