Stamford Store On The Rite Aid Chopping Block

CONNECTICUT, CT — A Stamford location is among three Connecticut Rite Aid stores on the chopping block in the troubled pharmacy chain's latest wave of closings.

They were announced on Black Friday and on the list were Connecticut locations in New Haven, Stamford and Waterbury.

In mid-October, Philadelphia-based Rite Aid, which then had 27 stores in Connecticut, said it would begin a spree of closing some underperforming stores under terms outlined in its Chapter 11 bankruptcy filing.

Rite Aid stores in Connecticut at the time were located in:

• Ansonia
• Bethel
• Bridgeport
• Brookfield
• Cheshire
• Danbury
• East Haven
• Fairfield
• Milford
• Monroe
• Naugatuck
• New Haven
• North Branford
• Northford
• Norwalk
• Ridgefield
• Stamford
• Stratford
• Wallingford
• Waterbury
• West Haven
• Wolcott

The company did not disclose the locations of Rite Aid drug stores considered for closure, or say when the stores would close, but on Friday more than 30 locations were on the doomed list, including Stamford, New Haven and Waterbury.

The closing of the 82 Hoyt St. location in Stamford is slated for Dec. 7 and will end Rite Aid's run in the city.

After the Rite Aid at 325 Ferry St. in New Haven closes Monday, the chain will have one remaining location in the city.

In Waterbury, the 277 Fairfield Ave. location is on the closing list and the Meriden Road location is surviving.

In October Rite Aid named Jeffrey S. Stein chief executive officer, chief restructuring officer and positioned him on the company's board of directors, and Stein immediately said, "Rite Aid regularly evaluates its store portfolio to ensure it is operating efficiently while meeting the needs of its customers, communities and associates. In connection with the court-supervised process, the Company will continue assessing its footprint and close additional underperforming stores. These efforts will further reduce the Company’s rent expense and are expected to strengthen its overall financial performance."

Stein added, "The court-supervised process provides Rite Aid with legal tools to accelerate our footprint optimization in an efficient and orderly manner. We look forward to working closely with our landlords to determine the best path forward for each of our stores."