Wakefern Food’s ShopRite banner has revealed that it will close five stores and gas stations in the metropolitan area surrounding Albany, N.Y., commonly referred to as the Capital Region.
In connection with the court-supervised process, Rite Aid said it intends to close certain underperforming stores to reduce rent expenses further and strengthen overall financial performance.
Rite Aid has received a commitment for $3.45 billion in new financing; names Jeffrey Stein as CEO, succeeding Elizabeth Burr, who has served as interim CEO since January 2023.
Thomas Cowhey, senior vice president of corporate finance, has been appointed interim CFO, while CEO of Oak Street Health, Mike Pykosz, has been named interim president of Health Services.
