After filing for Chapter 11 bankruptcy, Rite Aid Corporation is closing several Puget Sound Bartell Drugs stores. The closures will affect locations in downtown Kirkland, the Marketplace at Lake Meridian in Kent, and Roosevelt Square in Seattle. According to the Puget Sound Business Journal , these closures will take place over the next few weeks.
To assist with this process, Philadelphia-based Rite Aid has enlisted A&G Realty Partners to aid with store closings and lease restructuring. This move comes as part of a larger effort by the company to evaluate its property portfolio and optimize its real estate footprint for improved financial performance.
In addition to these recent closures, plans were also announced last month for selling 78 leases belonging to both Rite Aid and Bartell Drugs – including three Bartell locations and six Rite Aids – throughout western Washington.
