Following the recent Chapter 11 bankruptcy filed by Rite Aid Corporation, several Puget Sound Bartell Drugs stores are facing closures. Locations in downtown Kirkland, at the Marketplace at Lake Meridian in Kent, and Roosevelt Square in Seattle will close in the coming weeks, reported the Puget Sound Business Journal.
Philadelphia-based Rite Aid, which is the third-largest drug store chain in the country, is being assisted by A&G Realty Partners to help the company with its store closing and lease restructuring program. As part of a restructuring agreement, the company will assess its property portfolio and close additional stores to optimize its real estate footprint and improve its overall financial performance as needed.
Last month, plans were announced to sell 78 Rite Aid and Bartell leases, including three Bartell Drugs and six Rite Aids in western Washington.
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