Rite Aid closing stores across Michigan
Could Rite Aid potentially close all stores in Michigan?
Yes, Rite Aid could potentially close all stores in Michigan as part of its ongoing bankruptcy proceedings. The company has already filed a document listing 27 stores for closure in Michigan and Ohio, and has stated that it made the "difficult but necessary business decision" to close all stores in Michigan and nearly all stores in Ohio.
How many Rite Aid stores are planned to close in Michigan?
Rite Aid plans to close at least 12 stores in Michigan as part of its bankruptcy proceedings. However, the company may end up shuttering all its stores in the state. A document filed in U.S. Bankruptcy Court lists 27 stores that will be closing throughout Michigan and Ohio.
Why is Rite Aid closing stores in Michigan?
Rite Aid is closing stores in Michigan due to ongoing financial struggles and bankruptcy proceedings. The company has been facing declining sales, mounting debt, and increased competition from other pharmacies. The store closures are aimed at reducing costs and improving the company's financial position.