Rite Aid turns to CVS to save dozens of stores from closing for good
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Big changes in retail rarely go unnoticed, especially when they affect communities that rely on everyday services.
Store closures and takeovers often bring mixed reactions, with some welcoming stability while others fear losing familiar places.
As one company struggles to survive, another steps in to reshape the landscape. What unfolds has implications far beyond a single storefront.
Rite Aid, facing its second bankruptcy in recent years, is converting dozens of its stores into CVS locations in an attempt to stay afloat.
CVS had already agreed to purchase 64 Rite Aid stores across states like Oregon, Idaho, and Washington.
In addition, more than 600 prescription files from 15 states were transferred to CVS as part of the deal.
Now, communities are beginning to see the visible signs of this change as Rite Aid storefronts are switched over.
In Oregon alone, 13 Rite Aid stores are set to become CVS locations this month, following fears that the state would lose 40 pharmacies entirely.
Some conversions are already complete, while others are scheduled before the end of September.
In Ashland, residents received letters confirming Rite Aid’s closure on September 22, with prescriptions transferred to CVS the very next day.
The letter assured customers, “We know you have choices when it comes to pharmacies, and we appreciate that you entrusted us with your health.”
Also read: Could your CVS be closing? New Arkansas Law puts all 23 stores at risk.
Not everyone has welcomed the transition, especially independent pharmacies worried about competition.
Chris Hernandez, owner of Ashland Drug, declared, “We’re not going without a fight. We’re only one of two pharmacies left at this end of the valley.”
Smaller businesses like his fear that more buyouts could threaten the diversity of options available to local communities.
The conversions come as both CVS and Rite Aid continue to restructure in response to shifting consumer habits and mounting financial strain.
Also read: How one shopper slashed her $98 CVS bill down to $11—here’s how you can do it too
CVS is finalizing a three-year plan to close 900 stores, with 851 already shuttered by August 2024, citing a need for the“right kinds of stores in the right locations.”
Rite Aid, meanwhile, has seen waves of closures totaling hundreds of locations, as debt and competition take their toll.
With no clear timeline for when the next closures will come, uncertainty lingers over what the pharmacy landscape will look like in the near future.
Read next: Why 23 CVS stores are closing—and what it means for your prescriptions
As more communities watch familiar pharmacies disappear or change hands, the question remains: Are these moves creating stability, or paving the way for even larger gaps in access to care? Share your thoughts in the comments and let us know whether you believe these changes are truly helping consumers, or if they signal more trouble ahead.
Store closures and takeovers often bring mixed reactions, with some welcoming stability while others fear losing familiar places.
As one company struggles to survive, another steps in to reshape the landscape. What unfolds has implications far beyond a single storefront.
Rite Aid, facing its second bankruptcy in recent years, is converting dozens of its stores into CVS locations in an attempt to stay afloat.
CVS had already agreed to purchase 64 Rite Aid stores across states like Oregon, Idaho, and Washington.
In addition, more than 600 prescription files from 15 states were transferred to CVS as part of the deal.
Now, communities are beginning to see the visible signs of this change as Rite Aid storefronts are switched over.
Rite Aid turns to CVS to save dozens of stores from closing for good. Image source: Josip Ivankovic / Unsplash
In Oregon alone, 13 Rite Aid stores are set to become CVS locations this month, following fears that the state would lose 40 pharmacies entirely.
Some conversions are already complete, while others are scheduled before the end of September.
In Ashland, residents received letters confirming Rite Aid’s closure on September 22, with prescriptions transferred to CVS the very next day.
The letter assured customers, “We know you have choices when it comes to pharmacies, and we appreciate that you entrusted us with your health.”
Also read: Could your CVS be closing? New Arkansas Law puts all 23 stores at risk.
Not everyone has welcomed the transition, especially independent pharmacies worried about competition.
Chris Hernandez, owner of Ashland Drug, declared, “We’re not going without a fight. We’re only one of two pharmacies left at this end of the valley.”
Smaller businesses like his fear that more buyouts could threaten the diversity of options available to local communities.
The conversions come as both CVS and Rite Aid continue to restructure in response to shifting consumer habits and mounting financial strain.
Also read: How one shopper slashed her $98 CVS bill down to $11—here’s how you can do it too
CVS is finalizing a three-year plan to close 900 stores, with 851 already shuttered by August 2024, citing a need for the“right kinds of stores in the right locations.”
Rite Aid, meanwhile, has seen waves of closures totaling hundreds of locations, as debt and competition take their toll.
With no clear timeline for when the next closures will come, uncertainty lingers over what the pharmacy landscape will look like in the near future.
Read next: Why 23 CVS stores are closing—and what it means for your prescriptions
