Yet Another Hudson Valley Rite Aid Suddenly Shutting Down
An employee said they were just told two weeks ago that store would be closing.
At this point, it's pretty well-known knowledge that Rite Aid has been going through a restructuring that has the pharmacy chain closing many of its 2000 stores nationwide. That includes many in New York and the Hudson Valley area.
Just this past October, Rite Aid announced they were filing for bankruptcy protection, and in January 2024, it was announced that select New York stores would be closing, but the closing of another Hudson Valley location wasn't mentioned.
Rite Aid is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD.
In October 2023, the company filed for Chapter 11, due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis. In May 2023 we covered the unexpected closing of a long-standing Poughkeepsie Rite Aid, and now another Poughkeepsie store is closing.
Rite Aid In Poughkeepsie (Red Oaks Mill) Closing Its Doors
Signs are up announcing the closure of Rite Aid at 40 Vassar Rd. in the Red Oaks Mill area of Poughkeepsie. We stopped in this week and saw the giant 'Store Closing' sign in the front window and many signs on the front door letting customers know about the closing.
After talking to a store employee, we found out that they were told just about 2 weeks ago that the store would be closing for good and it's expected to shut down permanently by mid-March. If you want to get some great deals, you'll want to stop by the store soon as signs throughout the store have all merchandise currently up to 40% off.
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Gallery Credit: Boris