The Rite Aid at 1801 Hull St. is slated to close next month. (Jack Jacobs photo)
A pharmacy chain’s bankruptcy restructuring has put one of its longtime South Richmond outposts on the chopping block.
Rite Aid is planning to close its location at 1801 Hull St. next month, a company spokesperson confirmed last week.
The store has been operating in the 8,000-square-foot building at the corner of Hull Street and Cowardin Avenue for years. It is being closed because it was performing poorly and the company is trimming locations as part of an ongoing Chapter 11 bankruptcy restructuring.
“In connection with the court-supervised process, we notified the Court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance,” a Rite Aid spokesperson said in a statement.
The spokesperson didn’t comment on whether more store closings are planned in the Richmond region.
“At this time, we have not made or confirmed any decisions on additional specific store closures as part of our financial restructuring process,” the company’s statement read.
The Rite Aid on Hull Street is slated to close June 16. The location’s pharmacy closed earlier this month. The retailer leases the property.
Rite Aid had six locations in the region listed on its website Friday. The only other store in the city limits is at 520 W. Broad St. The company also has a location at 2600 Weir Place in Chester, 3210 Boulevard in Colonial Heights, and 2305 Oaklawn Boulevard and 5210 Oaklawn Boulevard in Hopewell.
The Pennsylvania-based retail pharmacy chain filed for Chapter 11 bankruptcy in October. That same month Rite Aid announced plans to shutter more than 150 stores, and more recently has shared plans to close about 50 more stores, Becker’s Hospital Review reported in April.
A Rite Aid at 1104 Courthouse Road in Chesterfield closed in recent months as part of that process.
Other national retailers are in the midst of shuttering Richmond-area locations. Clothing chain Rue21 will close its three local stores as part of a mass closure of all of its locations nationally. And musical instrument retailer Sam Ash Music announced it will close its longtime store at 9110 W. Broad St., also as part of a mass closure nationwide.
The Rite Aid at 1801 Hull St. is slated to close next month. (Jack Jacobs photo)
A pharmacy chain’s bankruptcy restructuring has put one of its longtime South Richmond outposts on the chopping block.
Rite Aid is planning to close its location at 1801 Hull St. next month, a company spokesperson confirmed last week.
The store has been operating in the 8,000-square-foot building at the corner of Hull Street and Cowardin Avenue for years. It is being closed because it was performing poorly and the company is trimming locations as part of an ongoing Chapter 11 bankruptcy restructuring.
“In connection with the court-supervised process, we notified the Court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance,” a Rite Aid spokesperson said in a statement.
The spokesperson didn’t comment on whether more store closings are planned in the Richmond region.
“At this time, we have not made or confirmed any decisions on additional specific store closures as part of our financial restructuring process,” the company’s statement read.
The Rite Aid on Hull Street is slated to close June 16. The location’s pharmacy closed earlier this month. The retailer leases the property.
Rite Aid had six locations in the region listed on its website Friday. The only other store in the city limits is at 520 W. Broad St. The company also has a location at 2600 Weir Place in Chester, 3210 Boulevard in Colonial Heights, and 2305 Oaklawn Boulevard and 5210 Oaklawn Boulevard in Hopewell.
The Pennsylvania-based retail pharmacy chain filed for Chapter 11 bankruptcy in October. That same month Rite Aid announced plans to shutter more than 150 stores, and more recently has shared plans to close about 50 more stores, Becker’s Hospital Review reported in April.
A Rite Aid at 1104 Courthouse Road in Chesterfield closed in recent months as part of that process.
Other national retailers are in the midst of shuttering Richmond-area locations. Clothing chain Rue21 will close its three local stores as part of a mass closure of all of its locations nationally. And musical instrument retailer Sam Ash Music announced it will close its longtime store at 9110 W. Broad St., also as part of a mass closure nationwide.
While this is more the fault of the company’s business model, it’s closure will affect an area already devoid of much needed services. I hope another pharmacy can come to the area.
Fortunately a street pharmacist can be found readily in this part of town.