“Underperformance” is being cited for Rite Aid’s decision to close its pharmacy at 1055 E. Main St. in Pulaski.
Kristin Kellum, a spokeswoman for Rite Aid Corporation, headquartered in Pennsylvania, said the decision was made not to renew the lease due to the store’s performance.
The last official day of business for the location will be May 17. However, the store will reopen May 22 for a liquidation sale on remaining general merchandise.
“We are in the process of notifying customers that their prescription files will be transferred to the CVS at 1351 Bob White Boulevard in Pulaski,” Kellum said.
It appears Food City, which has its own pharmacy across the street from CVS, is hoping to capture some of Rite Aid’s pharmacy customers away from CVS. It is displaying signs on Bob White Boulevard welcoming Rite Aid customers there.
As for Rite Aid employees, Kellum says they will be given the opportunity to transfer to neighboring Rite Aid stores. The two closest remaining locations are in Wytheville and Pearisburg.
Walgreens Boots Alliance and Rite Aid announced a merger in October 2015 under which Walgreens would buy out all remaining shares of Rite Aid stock. However, the merger has yet to receive approval by the Federal Trade Commission.
To address FTC concerns, Walgreens has offered to sell 865 Rite Aid Stores to Fred’s Pharmacy, based in Tennessee. A December press release from Walgreens states that it continues to work with the FTC and hopes to complete the acquisition of remaining Rite Aid stores by the end of this year.