Rite Aid closing at least 63 stores

[ClownLoach]

According to a Facebook post, Rite Aid is seeking "pre-approval" from the bankruptcy court to potentially close about another 195 locations, which would be as follows:,

229 Honesdale, PA
245 Hershey, PA
407 New Brunswick, NJ
652 Oneonta, NY
668 Ronkonkoma, NY
679 Upper Darby, PA
754 Butler, PA
856 Prospect Park, PA
994 Lake Hiawatha, NJ
1081 Drexel Hill, PA
1225 New York, NY
1295 Newport, NH
1433 Norwalk, OH
1451 Mahopec, NY
1563 Philadelphia, PA
1709 Scottdale, PA
1780 Windber, PA
2271 Manchester, PA
2352 Defiance, OH
2509 Warren, MI
2545 Washington, PA
3310 Derby, NH
3315 Marlette, MI
3620 Lancaster, PA
3663 Bronx, NY
3825 Philadelphia, PA
3857 Latrobe, PA
3865 Queens Village, NY
3870 Flushing, NY
3902 Virginia Beach, VA
3978 Brooklyn, NY
4250 Baltimore, MD
4305 Troy, MI
4368 Grosse Pointe Farms, MI
4372 Milford, MI
4382 Midland, MI
4445 Allen Park, MI
4692 Chesapeake, VA
4695 Harrison Township, MI
4708 Waverly, OH
4746 Somerville, NJ
4876 Brooklyn, NY
4961 Pelham, NH
5180 Bothell, WA
5181 Mill Creek, WA
5186 Federal Way, WA
5187 Issaquah, WA
5197 Mercer Island, WA
5205 Woodinville, WA
5217 Seattle, WA
5225 Lake Forest Park, WA
5238 Bellingham, WA
5239 Bellingham, WA
5256 Milton, WA
5267 Bonney Lake, WA
5275 University Place, WA
5307 Spokane, WA
5313 Spokane, WA
5247 Oak Harbor, WA
5322 Beaverton, OR
5326 Clackamas, OR
5329 Lake Oswego, OR
5334 The Dalles, OR
5338 Hillsboro, OR
5351 Portland, OR
5354 Tigard, OR
5369 Lebanon, OR
5373 Eugene, OR
5390 Bend, OR
5408 Lewiston, ID
5413 Boise, ID
5425 Los Angeles, CA
5426 Los Angeles, CA
5430 Los Angeles, CA
5445 Los Angeles, CA
5450 Los Angeles, CA
5462 Beverly Hills, CA
5464 Culver City, CA
5476 Lynwood, CA
5480 Rolling Hills Estates, CA
5484 Venice, CA
5492 Torrance, CA
5494 Whittier, CA
5508 Bellflower, CA
5545 Chatsworth, CA
5551 San Fernando, CA
5567 Van Nuys, CA
5569 Sherman Oaks, CA
5576 Azusa, CA
5592 Hacienda Heights, CA
5597 Monterey Park, CA
5615 Chula Vista, CA
5627 Encinitas, CA
5646 San Diego, CA
5660 San Diego, CA
5668 San Diego, CA
5679 Desert Hot Springs, CA
5684 Palm Springs, CA
5694 Colton, CA
5696 Fontana, CA
5697 Hesperia, CA
5704 Menifee, CA
5712 Riverside, CA
5732 Brea, CA
5749 San Clemente, CA
5782 Port Hueneme, CA
5786 Simi Valley, CA
5811 Bakersfield, CA
5825 Arroyo Grande, CA
5832 Paso Robles, CA
5842 Mammoth Lakes, CA
5846 Rosamond, CA
5865 Fresno, CA
5885 Half Moon Bay, CA
5893 Redwood City, CA
5937 San Leandro, CA
5944 Pleasonton, CA
5957 San Rafael, CA
5958 San Rafael, CA
5959 Maera, CA
5965 Aptos, CA
5988 San Jose, CA
5992 San Jose, CA
5996 Stockton, CA
6023 Santa Rosa, CA
6031 Sebastopol, CA
6033 Ukiah, CA
6048 Davis, CA
6059 Rancho Cordova, CA
6084 Sacramento, CA
6086 Antelope, CA
6095 Redding, CA
6013 Mount Shasta, CA
6207 Corona Del Mar, CA
6214 Compton, CA
6235 Torrance, CA
6255 Pasadena, CA
6276 Hesperia, CA
6310 Salinas, CA
6327 Calabasas, CA
6338 Pomona, CA
6432 Elk Grove, CA
6482 Fontana, CA
6509 Lake Elsinore, CA
6520 Sacramento, CA
6561 Yucaipa, CA
6723 Woodlake, CA
6738 Hollidaysburg, PA
6768 McFarland, CA
6833 Winchester, CA
6928 Kirkland, WA (Bartell)
6939 Gig Harbor, WA (Bartell)
6947 Maple Valley, WA (Bartell)
6956 Seattle, WA (Bartell)
7861 Morgantown, PA
10269 Milford, NH
10273 Salem, NH
10284 Keene, NH
10297 Newmarket, NH
10369 Monroe, CT
10386 Fairfield, CT
10427 Blairstown, NJ
10432 Washington, NJ
10440 Laurel Springs, NJ
10496 Jackson, NJ
10509 Lavallette, NJ
10512 Toms River, NJ
10577 Brooklyn, NY
10584 Brooklyn, NY
10601 Woodside, NY
10648 Massapequa Park, NY
10687 Troy, NY
10790 Endwell, NY
10837 Amherst, NY
10842 Canandaigua, NY
10892 Bridgeville, PA
10924 Pittsburgh, PA
10969 North Huntingdon, PA
11009 Erie, PA
11024 Waynesboro, PA
11059 Lehighton, PA
11081 Luzerne, PA
11095 Souderton, PA
11106 Fairless Hills, PA
11114 Yardley, PA
11122 Wynnewood, PA
11124 Philadelphia, PA
11153 West Chester, PA
11154 West Chester, PA
11162 Lansdale, PA
11193 Rehoboth Beach, DE
11273 Virginia Beach, VA

About the Michigan locations:

• Warren (14 and Mound) is at a low-key intersection about halfway between Oakland Mall and Van Dyke. 12 and Dequindre (still in Warren), 12 and Hoover (also still in Warren), and 15 and Dodge Park in Sterling Heights are the nearest remaining stores.

• Marlette is a small-town store about right in the center of the Thumb, and the nearest stores are in towns a fair distance away (Sandusky, Caro and Imlay City).

• Troy (Maple and Coolidge) is within one of the city's major retail areas, near the city's train station, a mile south of Somerset Collection, and a mile east of downtown Birmingham. This closure leaves Rite Aid with no presence left in Troy (where they had a few stores just a couple years ago), with the nearest stores in Berkley, Royal Oak, and Maple and Lahser in Bloomfield Hills.

• Grosse Pointe Farms is a downtown store that has at least dated back to the Perry Drug days. This closure leaves Rite Aid with no presence left in the Grosse Pointes, and the nearest store is at Harper and Cadieux in Detroit.

• Milford is located just north of downtown, at the curve just before the Prospect Hill Shopping Center. The nearest stores are in South Lyon and White Lake.

• Midland is located on the Ashman Circle northeast of downtown and adjacent to one of the oldest operating Kroger stores in Michigan. This closure leaves Rite Aid with no presence left in Midland (where they had two stores less than a year ago), with the nearest stores in Bay City and Saginaw.

• Allen Park is in a downtown strip mall in a space that originally housed Wrigley's, then Packer, then Chatham supermarkets before being sold to Perry in the 1980s. The nearest stores are in Wyandotte, Dearborn, and Vernor and Springwells in Detroit.

• Harrison Township is a former Concord Drug deep within a residential area south of the Selfridge ANG Base halfway between I-94 and Lake Saint Clair. The nearest store is in nearby Mount Clemens.

The locations in question were listed in this docket filing(item 2024).However they since have managed to successfully able to negotiate lease/rent concessions on roughly half of those locations via two docket updates:item 2073 lists lease/rent concessions for most of the Sacramento locations previously mentioned on that 'non-extended leases' listing including store 6086 in Antelope where I have worked for the past four months since the withdrawal from Citrus Heights.*sigh of relief* while item 2213 does likewise for the other Sacramento locations(Auburn,Rancho Cordova)not listed in 2073.Many of the locations listed on 2024 do reasonable volume,being on that list isn't necessarily a death sentence as evidenced on items 2073 and 2213(if it wasn't for these two docket items,the California store count would have plunged below 300 on one fell swoop).

The East Shields store in Fresno(first announced NorCal closure since the Woodland DC closure was publicly announced as Livermore Murietta was already in liquidation if not already closed)is actually a late-2000's replacement for an aging(early-1960's)former Thrifty opposite Cedar,now a salon supply store after being occupied by a Fallas discount store for a number of years.There are a couple of RA-1 build locations(both Wellness remodeled)still open further north along Cedar.

Some more monthly operating reports on the docket of note:

• Thrifty Corporation:November,December,January
• Thrifty Payless Inc:November,December,January
• The Bartell Drug Co:November,December,January

Also,I recently created a thread on the Rite Aid Reddit that at least tries to throw cold water on the insane amount of pessimist/defeatest posts on that sub(and yes I'm still considering the dearth of West Coast 'sign walkers wanted' ads on Craigslist as hoaxes as scams do exist on Craigslist).

I would caution against posting these bankruptcy form P&L statements because they are just plain inaccurate. Stores have zero cash on the report for one thing in the first section. So when it shows running for the month or whatever at a loss there isn't any cash being added in. Of course they run at a loss when they are literally not showing income and just paying bills and employees as directed. These are forms for the purposes of the court not for a business and thus will mislead you as to the performance of the division.

What I would pay attention to is the last line on Part 2 in the report. Shows for Thrifty Payless for example the division is worth $1.2 billion just on assets alone *even if all debts were fully repaid* with no consideration for the business as a going concern which would increase the value substantially. This means that there is a huge windfall for the creditors to get this deal done and own the company with as many assets as possible which includes physical stores owned and leased. They are in effect buying the company at a substantial discount as the organization is not going to be worth less than the value of the assets post bankruptcy. This is further validated when you consider the massive cost cutting that has occurred such as reduction of DCs and moving building maintenance cost to the landlords for the next ten years (as alleged in the landlord Reddit posts revealing the drastic concessions being demanded).

And I'm sure the money hole of mandatory $250 million a year of remodels and upgrades above and beyond repairs that their pre-bankruptcy loan terms required is no longer applicable, that is what paid for the new logo signs everywhere since they had to spend the money. Ironically I think on paper the signs were one of the few things they could buy that don't technically "live in the building" once they close or move meaning that they can and likely did file a loss against their taxes for writing off each one that was wasted on a now closed store. Not having to spend all that money on remodels will be great for profits and cash flow. We know in some cases stores that were admittedly in good condition and not in need of upgrades had to be remodeled anyway just to spend the requirements of the loans.

I think the majority of the chain is in good condition with Wellness format and most of those stores could just be maintained, not remodeled, for the next decade and they would be just fine. Still nicer than any Walgreens or CVS format. There's $2.5 billion in potential profit right there for the next decade, and that doesn't factor in repair and maintenance savings where those have been successfully pushed onto the landlord. I have to assume that R&M is double what they were spending on remodels, maybe more. Now just from changing those two restrictions on their business they open the door to about $7.5B in additional profit over the next decade? Sounds good to me.

[storewanderer]

What I would pay attention to is the last line on Part 2 in the report. Shows for Thrifty Payless for example the division is worth $1.2 billion just on assets alone *even if all debts were fully repaid* with no consideration for the business as a going concern which would increase the value substantially. This means that there is a huge windfall for the creditors to get this deal done and own the company with as many assets as possible which includes physical stores owned and leased. They are in effect buying the company at a substantial discount as the organization is not going to be worth less than the value of the assets post bankruptcy. This is further validated when you consider the massive cost cutting that has occurred such as reduction of DCs and moving building maintenance cost to the landlords for the next ten years (as alleged in the landlord Reddit posts revealing the drastic concessions being demanded).

And I'm sure the money hole of mandatory $250 million a year of remodels and upgrades above and beyond repairs that their pre-bankruptcy loan terms required is no longer applicable, that is what paid for the new logo signs everywhere since they had to spend the money. Ironically I think on paper the signs were one of the few things they could buy that don't technically "live in the building" once they close or move meaning that they can and likely did file a loss against their taxes for writing off each one that was wasted on a now closed store. Not having to spend all that money on remodels will be great for profits and cash flow. We know in some cases stores that were admittedly in good condition and not in need of upgrades had to be remodeled anyway just to spend the requirements of the loans.

I think the majority of the chain is in good condition with Wellness format and most of those stores could just be maintained, not remodeled, for the next decade and they would be just fine. Still nicer than any Walgreens or CVS format. There's $2.5 billion in potential profit right there for the next decade, and that doesn't factor in repair and maintenance savings where those have been successfully pushed onto the landlord. I have to assume that R&M is double what they were spending on remodels, maybe more. Now just from changing those two restrictions on their business they open the door to about $7.5B in additional profit over the next decade? Sounds good to me.

I've heard they are planning to start store remodels again soon. I am not sure what they are remodeling to or where they are planning to do remodels. This concerns me based on what their "remodels" pre bankruptcy looked like and did (cut SKUs even more)... Personally I think they should just continue with the Wellness Format. Maintain the stores as you say; if a store has a busted up floor, replace it. Busted up checkout counters? Resurface them. Bathroom from 1980? Remodel it.

The signs, registers, and shopping carts were about all they took from the closed stores... I cannot tell with certainty but I think even prescription dispensing equipment was left behind (those machines that automatically fill bottles). Could this be deliberate for them (in reorganized form) to turn around and reopen some closed stores in the future?

Hopefully the creditors see all this potential profit as reason to continue the chain (could even IPO again), and CVS/Walgreens don't come up with an offer that exceeds all that to take the chain out.

[ClownLoach]

What I would pay attention to is the last line on Part 2 in the report. Shows for Thrifty Payless for example the division is worth $1.2 billion just on assets alone *even if all debts were fully repaid* with no consideration for the business as a going concern which would increase the value substantially. This means that there is a huge windfall for the creditors to get this deal done and own the company with as many assets as possible which includes physical stores owned and leased. They are in effect buying the company at a substantial discount as the organization is not going to be worth less than the value of the assets post bankruptcy. This is further validated when you consider the massive cost cutting that has occurred such as reduction of DCs and moving building maintenance cost to the landlords for the next ten years (as alleged in the landlord Reddit posts revealing the drastic concessions being demanded).

And I'm sure the money hole of mandatory $250 million a year of remodels and upgrades above and beyond repairs that their pre-bankruptcy loan terms required is no longer applicable, that is what paid for the new logo signs everywhere since they had to spend the money. Ironically I think on paper the signs were one of the few things they could buy that don't technically "live in the building" once they close or move meaning that they can and likely did file a loss against their taxes for writing off each one that was wasted on a now closed store. Not having to spend all that money on remodels will be great for profits and cash flow. We know in some cases stores that were admittedly in good condition and not in need of upgrades had to be remodeled anyway just to spend the requirements of the loans.

I think the majority of the chain is in good condition with Wellness format and most of those stores could just be maintained, not remodeled, for the next decade and they would be just fine. Still nicer than any Walgreens or CVS format. There's $2.5 billion in potential profit right there for the next decade, and that doesn't factor in repair and maintenance savings where those have been successfully pushed onto the landlord. I have to assume that R&M is double what they were spending on remodels, maybe more. Now just from changing those two restrictions on their business they open the door to about $7.5B in additional profit over the next decade? Sounds good to me.

The signs, registers, and shopping carts were about all they took from the closed stores... I cannot tell with certainty but I think even prescription dispensing equipment was left behind (those machines that automatically fill bottles). Could this be deliberate for them (in reorganized form) to turn around and reopen some closed stores in the future?

Hopefully the creditors see all this potential profit as reason to continue the chain (could even IPO again), and CVS/Walgreens don't come up with an offer that exceeds all that to take the chain out.

On the first, I think there is some weird kind of loophole around leased equipment abandonment in bankruptcy. My last liquidation experience, there were several pieces of leased equipment we were specifically ordered A) not to sell as fixtures, and B) to leave behind intact and undamaged. This included a huge leased server rack and computers along with some network equipment. I noticed BB&B left all their self checkout registers which is similar. Somehow the bankruptcy court arranges something where the lessor is given a court order and may serve the landlord with it to repossess their property which also is considered to sever the lease without further penalty. So that is probably why the pill counters are left, those are assuredly leased from McKesson or someone else. Bankruptcy is weird.

I am growing doubtful of a bid in the light of these new docket filings where leases have been accepted. Normally all the leases are accepted towards the end of the process. So by accepting now, many if not all of these leases are being completely reset. Let's say that it was a 20 year lease and store is 8 years old. As of acceptance day it's a brand new 20 year lease starting then including the scaling lease severance penalties. So now unless they want to keep the Rite Aid stores over their own it becomes much more costly to bid because of the overhead they're going to commit to... A "poison pill" in effect.

Maybe that is intentional to make sure that nobody bids? Not that they would be obligated to accept any bid besides their own, but I think they lose their ability to write off the discharged debts if someone was going to offer more... Basically they're accepting equity valued at $3.4B as payment. I'm not sure what they're owed in total so let's make it up for example say $6B, and they're going to write off $2.6B as a loss. CVS decides to waltz in and offers $5B. Now they can still accept their own $3.4B bid, but if the court determines that the CVS offer was legitimate then they will be ruled to have accepted $3.4B in lieu of $5B and thus forfeit the right to write off the difference of $1.6B in losses, resulting in potentially hundreds of millions in additional corporate taxes due depending on their finances elsewhere. It's one thing to accept equity as payment, but it's something else entirely to write a check as well. Hence they may not be very happy if a qualified bidder comes in above the "Stalking Horse Bid" they will submit. That scenario is how theoretically CVS or Walgreens or someone else could still buy out the company, but the more leases are accepted the more overhead they're committing to taking on in the future.

CVS especially my understanding is they always do leases with a ten year escape clause, even their employees are taught that as I learned when they amusingly wound up with two stores at one intersection in Huntington Beach after the SavOn acquisition. The employees in both stores basically said "well, we have ten years to show that we can make money and then our lease will be continued." Both stores still were there last time I drove through. I doubt any new Rite Aid lease signed in BK would include a similar ten year escape clause, or really any escape clause. If you were the landlord making concessions why would you also give them a window to leave? The new lease is like a recommitment, or doubling down on that site. So as more and more sites are accepted prior to the "auction" in which creditor controlled "Rite Aid Retail 2.0" will bid for the assets of "Rite Aid Corporation", the less likely a competitive bid comes in. Even the liquidators might not be interested.

Which makes me also wonder about those Craigslist ads... Really starting to think those were a hoax. Dirty trick either by pissed off Reddit types, pissed off landlords, or dishonest recruiters trying to convince people to jump ship. Liquidators would not do any hiring activities unless they had a court order in hand to wind down the stores, and we know they didn't. They do not spend money, period. The only other circumstances would be if a unknown 3rd party was going to bid only to liquidate and they were funding hiring activities from their own pockets... But now knowing leases are accepted I think competitive bids are far less likely to occur. And finally I don't see anyone hiring sign walkers legitimately writing all the details out on an ad. They would be super simplistic because of required confidentiality prior to a final order which we all know has not occurred and is many weeks or even months away. "Hiring sign walkers in LA, call 555-555-1212 if interested. $X to $Y per hour" would be all they'd write. These Craigslist ads are a hoax.

[norcalriteaidclerk]

https://restructuring.ra.kroll.com/Rite ... Q==&id2=-1
https://restructuring.ra.kroll.com/Rite ... A==&id2=-1

New wave of renegotiated leases(item 2249 and 2259).

Also another announced San Diego closure in the Pacific Beach neighborhood.(Item 2255?).

https://restructuring.ra.kroll.com/Rite ... g==&id2=-1

[storewanderer]

https://restructuring.ra.kroll.com/Rite ... Q==&id2=-1
https://restructuring.ra.kroll.com/Rite ... A==&id2=-1

New wave of renegotiated leases(item 2249 and 2259).

Also another announced San Diego closure in the Pacific Beach neighborhood.(Item 2255?).

https://restructuring.ra.kroll.com/Rite ... g==&id2=-1

1670 Garnet is ANOTHER newer store closing.... and this was a 24 hour store (because this was a BUSY store).

Why do they keep closing new stores? This is a great area, very busy location.

That is an interesting store- the shopping center used to have a former Safeway which was a pretty sad Vons, and a largeish Sav-On. The next shopping center over had a nicer Vons, and a former 80's/90's CVS that was a Thrifty JR. In the 90's. So it was weird there- in that it had 2 Vons in shopping centers next to each other.

Then for a while it had 2 CVS in the 2 shopping centers next to each other.

Musical chairs of tenants over the years and you now have a very nice Vons there now in the original Vons, heavily expanded and remodeled multiple times.

The old Sav-On space is Petsmart. The Rite Aid (which is closing) used to be shopping center tenants but I think it is actually a brand new building. It opened as a Wellness Store. It is a very nice store.

The old Thrifty JR. space became a Longs at some point (not sure if it ever became a Rite Aid) and has long been a CVS again (like in the early 90's).

[ClownLoach]

https://restructuring.ra.kroll.com/Rite ... Q==&id2=-1
https://restructuring.ra.kroll.com/Rite ... A==&id2=-1

New wave of renegotiated leases(item 2249 and 2259).

Also another announced San Diego closure in the Pacific Beach neighborhood.(Item 2255?).

https://restructuring.ra.kroll.com/Rite ... g==&id2=-1

1670 Garnet is ANOTHER newer store closing.... and this was a 24 hour store (because this was a BUSY store).

Why do they keep closing new stores? This is a great area, very busy location.

That is an interesting store- the shopping center used to have a former Safeway which was a pretty sad Vons, and a largeish Sav-On. The next shopping center over had a nicer Vons, and a former 80's/90's CVS that was a Thrifty JR. In the 90's. So it was weird there- in that it had 2 Vons in shopping centers next to each other.

Then for a while it had 2 CVS in the 2 shopping centers next to each other.

Musical chairs of tenants over the years and you now have a very nice Vons there now in the original Vons, heavily expanded and remodeled multiple times.

The old Sav-On space is Petsmart. The Rite Aid (which is closing) used to be shopping center tenants but I think it is actually a brand new building. It opened as a Wellness Store. It is a very nice store.

The old Thrifty JR. space became a Longs at some point (not sure if it ever became a Rite Aid) and has long been a CVS again (like in the early 90's).

Speaks for itself. Obviously a store they would want to keep open, but due to lack of landlord cooperation or interest they couldn't.

I mentioned elsewhere that newer store leases are substantially more expensive. If this site was opened in the last 10 to 15 years the rent could be triple that of a store that was around back when Rite Aid first came to California. Rent is probably in the 50K per month bracket in that area when other older sites nearby would be in the 10K to 15K range. So even if it is crazy busy it might not have been very profitable especially with some shrink thrown in. Such space is probably in demand and the landlord probably has someone lined up willing to take the space for same or more rent, so they refused to concede to Rite Aid’s demands and as such the store is now going to be closed. Very similar situation to that nice new store that closed in Long Beach on PCH.

[BillyGr]

Which makes me also wonder about those Craigslist ads... Really starting to think those were a hoax. Dirty trick either by pissed off Reddit types, pissed off landlords, or dishonest recruiters trying to convince people to jump ship. Liquidators would not do any hiring activities unless they had a court order in hand to wind down the stores, and we know they didn't. They do not spend money, period. The only other circumstances would be if a unknown 3rd party was going to bid only to liquidate and they were funding hiring activities from their own pockets... But now knowing leases are accepted I think competitive bids are far less likely to occur. And finally I don't see anyone hiring sign walkers legitimately writing all the details out on an ad. They would be super simplistic because of required confidentiality prior to a final order which we all know has not occurred and is many weeks or even months away. "Hiring sign walkers in LA, call 555-555-1212 if interested. $X to $Y per hour" would be all they'd write. These Craigslist ads are a hoax.

Or, they are just for some other company and have absolutely nothing to do with Rite Aid at all (other than happening to be in areas that Rite Aid also has stores - which I'm sure all those areas have other businesses as well).

[veteran+]

Just got home from the Rite Aid on Santa Monica Bl. in West Hollywood.

Filthy outside!

Inside nice and neat but a lot of OOSs!

Relatively busy and very friendly helpful employees (this is a 24hour store).

3 cashiers up front. I asked when they were closing and they said they are not. When I mentioned the sidewalkers they were shocked and distressed.

[ClownLoach]

Which makes me also wonder about those Craigslist ads... Really starting to think those were a hoax. Dirty trick either by pissed off Reddit types, pissed off landlords, or dishonest recruiters trying to convince people to jump ship. Liquidators would not do any hiring activities unless they had a court order in hand to wind down the stores, and we know they didn't. They do not spend money, period. The only other circumstances would be if a unknown 3rd party was going to bid only to liquidate and they were funding hiring activities from their own pockets... But now knowing leases are accepted I think competitive bids are far less likely to occur. And finally I don't see anyone hiring sign walkers legitimately writing all the details out on an ad. They would be super simplistic because of required confidentiality prior to a final order which we all know has not occurred and is many weeks or even months away. "Hiring sign walkers in LA, call 555-555-1212 if interested. $X to $Y per hour" would be all they'd write. These Craigslist ads are a hoax.

Or, they are just for some other company and have absolutely nothing to do with Rite Aid at all (other than happening to be in areas that Rite Aid also has stores - which I'm sure all those areas have other businesses as well).

Nope. They do not run that specific of an ad prior to a court order specifically because of confidentiality agreements. That's one of the key reasons I believe this is a hoax. Whether they're hired by Rite Aid themselves, their creditors, or a potential hostile buyer, the liquidators run under strict NDA. Same goes for any other job the liquidators might have. This level of disclosure is not normal and thus makes the ad highly suspicious. You should try calling for a job - if they tell you anything specific like "yeah, you're going to be out in front of Rite Aid" then you know it's a hoax because once again they are always under an NDA prior to any court ordered action and would never tell anyone any specific details in advance.

[norcalriteaidclerk]

Additional new items of interest on the docket:

Two more sets of successfully renegotiated leases(2259 and 2271)and multiple sale agreements of outright owned vacant buildings most recently occupied by previously closed RAD locations.

Doesn't necessarily mean it'll be fully redacted but it appears that most of the potential conditional closure candidates on item 2024(including my current location)have apparently been saved.