National pharmaceutical company Rite Aid continues its advance from Michigan, releasing a list of store closures this week that includes a store in Dearborn.
A list included in a group of filings in U.S. Bankruptcy Court in New Jersey this month includes the location at 22521 Michigan Ave., Dearborn. A total of 38 stores in Michigan are on the list. The closure of more than 120 stores, including several in and around Wayne County, has been on previous lists.
Most local Rite Aid stores have already closed or are in the process of closing their stores. The remaining inventory is being sold at a discounted price, while home furnishings are also on sale. Earlier this month, Rite Aid transferred its pharmacy prescriptions to Walgreens stores, which, like rival CVS, has also recently closed stores across the country.
Rite Aid filed for Chapter 11 bankruptcy in October 2023 after several years of losses. Experts attribute the closures to overbuilding, declining drug reimbursement rates and changing consumer habits. Rite Aid also agreed to pay more than $400 million to the federal government as part of a settlement announced in July with the U.S. Department of Justice in a misrepresentation case about opioids.
Originally published:
