Rite Aid is set to close or sell 178 locations across New York, including 35 in New York City, as the company undergoes another restructuring phase following its recent Chapter 11 bankruptcy filing. Despite speculation about immediate store closures, not all locations will cease operations immediately. Reportedly, the closures could contribute to the city's ongoing issue with vacant pharmacies, as landlords retain long leases on abandoned properties. However, recent rezoning efforts might pave the way for new uses of the retail spaces, such as recreational venues rather than traditional pharmacies.
Rite Aid is shuttering or selling off 178 stores in New York, with 35 closures in the city, as part of a broader restructuring effort.
Despite rumors of immediate closures, not all Rite Aid stores will close right away, with some still in operation during the restructuring process.
The ongoing closures could exacerbate New York's 'zombie pharmacy' issue, where empty storefronts linger due to long-term lease commitments of failed businesses.
However, new rezoning initiatives may introduce creative uses for these spaces, transforming them from pharmacies to leisure venues.
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