COLDWATER, MI (WTVB) – There is one less drug store in Coldwater. The struggling drug store chain Rite Aid has shut down its store at 450 East Chicago.
Prescription records have been moved across the street to the Walgreen’s store at the corner of Michigan and U.S. 12.
Forbes reported last Thursday that Rite Aid has closed 145 unprofitable stores in the last year or so and that they reported a quarterly loss of more than $241 million.
Rite Aid has been losing money due to a loss of revenue from store closures as well as the loss of COVID-19 vaccine and testing sales.
Rite Aid has been unsuccessfull in trying to keep up with rivals Walgreens, CVS Health and Walmart. They have more than 2,300 drugstores across 17 states.
Large discounts were being offered on store items in the days before the Coldwater Rite Aid store shut down.
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