Last month a Bristol Borough Rite Aid employee who asked not to be identified told Lower Bucks Source the pharmacy outlet on the 400 block of Pond Street started to tell employees the end was near for the location, as it would close in the very near future.
The closing seems to be closer now than ever before as the chain has filed for Chapter 11 bankruptcy and told its vendors it’s no longer purchasing goods and services amid the financial challenges it is facing.
Eight stores in Pennsylvania are among the first 47 Rite Aid locations to close. The one Bucks County Rite Aid set to close is located at 1039 Second St., Northampton Township, near Richboro, bankruptcy filings show.
Rite Aid has indicated that a majority of its stores will remain open for only a few months, signaling the end is near for the drugstore.
In 2022, the Philadelphia-based chain closed more than 150 of its locations, including the location formerly located at the Bristol Park Shopping Center.
Company officials said last month, it is pursuing “a strategic and value-maximizing sale process for substantially all of its assets.” The drugstore chain said in order to make the sales process happen, it has entered into Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey.
Beginning last month, Rite Aid Rewards points will no longer be issued for qualifying purchases. All accrued points and BonusCash will expire per the standard terms & conditions available at riteaid.com/rewards/terms-and-conditions.
What will definitely be interesting to see play out will be what moves into the Pond Street location once the pharmacy chain store vacates the site.
Attempts to reach company officials for comment and official closing date information were unsuccessful Friday.
