Rite Aid closing at least 63 stores

[storewanderer]

So it's the 20th. Where are the sign walkers?

I noted above that the ads now say date subject to change. Hopefully to April 31. As in nonexistent date.

[ClownLoach]

So it's the 20th. Where are the sign walkers?

I noted above that the ads now say date subject to change. Hopefully to April 31. As in nonexistent date.

Right. Pay us your "sign deposit" now and we will start you working on a future date subject to change... That doesn't sound like a scam at all.

[reymann]

To me no closure news is good news. I just worry about the NorCal/Oregon stores as the most vulnerable right now with the distribution centers being so far away. I'll wait to see what will be the actual number of closures after all the leases that can't be renegotiated on that list.

[storewanderer]

So it's the 20th. Where are the sign walkers?

I noted above that the ads now say date subject to change. Hopefully to April 31. As in nonexistent date.

Right. Pay us your "sign deposit" now and we will start you working on a future date subject to change... That doesn't sound like a scam at all.

I don't think there would be a sign deposit until they physically gave you the sign... which they can't really do until it actually starts.

I notice new postings and those new postings now say it starts March 27.

Also there are people over in Reddit saying they did not receive 401k matching contributions that typically show up around March 15 in prior years.

I think there is a major problem here due to the lack of inventory in the stores.

NorCal/OR Stores are only going to get delivery trucks every two weeks unless they sell over $80k a week of front end. I think in NorCal that is only about 3 stores total in the entire region. The irony is a few years ago the South Lake Tahoe and Truckee Stores moved so much merchandise they would have qualified for that but of course Rite Aid killed them due to not staffing properly, sales fell way way down, and then closed them. Many stores have tiny backrooms, those late 90's build stores, the backroom is like the size of a closet. You can hardly fit anything in there. Some stores may have dead space up around where 1 hour photo once was/old magazine wall to pile stuff. There is a large walk in cooler so theoretically you could put some backstock of shelf beverages (say, 64oz juices) in there. They have some kind of a program to manage backroom inventory so that backstock of beverages in cooler may be a no no; it works okay with larger stores... not so much on the tiny backroom Rite Aid prototypes.

[storewanderer]

Sign walkers no longer have a start date. Now say starting SOON. Okay guys. Whatever.

This is however the first ad I've seen that also includes Mammoth Lakes.

https://palmsprings.craigslist.org/lab/ ... 10862.html

[reymann]

Sign walkers no longer have a start date. Now say starting SOON. Okay guys. Whatever.

This is however the first ad I've seen that also includes Mammoth Lakes.

https://palmsprings.craigslist.org/lab/ ... 10862.html

CVS or whoever is behind these sign ads should be reported on craigslist, BS job listings based on spec should not be posted until there is verified news of liquidation.

[storewanderer]

It looks like they've reached a bankruptcy settlement. Hopefully they exit rapidly.

[ClownLoach]

It looks like they've reached a bankruptcy settlement. Hopefully they exit rapidly.

We should hear confirmation of this today or tomorrow. Interesting that the news reports specifically of settlements with both the DOJ and McKesson. My only concern is if that means they are going to have to cash out some assets to pay those settlements.

[reymann]

It looks like they've reached a bankruptcy settlement. Hopefully they exit rapidly.

We should hear confirmation of this today or tomorrow. Interesting that the news reports specifically of settlements with both the DOJ and McKesson. My only concern is if that means they are going to have to cash out some assets to pay those settlements.

with some of the distribution issues about to hit norcal and oregon, i wonder if those regions end up being divested off as part of the settlement to generate cash.

[storewanderer]

It looks like they've reached a bankruptcy settlement. Hopefully they exit rapidly.

We should hear confirmation of this today or tomorrow. Interesting that the news reports specifically of settlements with both the DOJ and McKesson. My only concern is if that means they are going to have to cash out some assets to pay those settlements.

The sign walkers being on standby still... means something.

At this point there are reports that basically any store with under $80k a week of front end sales is going to bi weekly deliveries from distributon not just out west but also in OH, NY, PA, etc.

I'll be curious to hear what DOJ gets. I thought the whole point of this was to make that go away.

I'm still very upset about all of the store closures.