Rite Aid Trouble – Company Closing 53 More Stores Including Michigan

Troubling times continue for Rite Aid as the popular retailer recently announced the closure of 53 more stores. Yes, that's 53 more on top of the roughly 200 it has closed since filing for Chapter 11 bankruptcy protection last year.

Thankfully, as they continue to trim down the number of stores on their roster, Michigan only has two in the round of cuts this time.

Last year when Rite Aid filed for bankruptcy, they announced 19 Michigan store closures. Since then, more Michigan stores have closed, and more are in the works, including Rite Aid in Novi and Sterling Heights.

Rite Aid Stores Closing Michigan

• 42481 West 13 Mile Road, Novi, Michigan
• 11743 15 Mile Road, Sterling Heights, Michigan

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Why is Rite Aid closing so Many Stores?

While the company says they are currently closing stores that are underperforming, their issues are much bigger than that.

Their difficulties stem from lawsuits alleging the illegal filling of opioid painkiller prescriptions. Shortly before the company filed for bankruptcy, the Wall Street Journal estimated Rite-Aid's debt at over $3.3 billion. However, a recent Bloomberg report suggests this figure may actually exceed $8 billion.

Here in Genesee County, Rite Aid announced the closure of five locations last year:

• Rite Aid at Bristol Road and Saginaw Street in Burton
• Rite Aid at Atherton Road and Fenton Road in Flint
• Rite Aid at Davison Road and Center Road in Burton
• Rite Aid at Linden Road and Corunna Road in Flint Township
• Rite Aid at Ballenger Highway and Flushing Road in Flint

It's a scary time for Rite Aid employees who are unsure if they'll walk into work tomorrow only to find out they no longer have a job.