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StumbleRite Aid looks at selling Western stores
Friday, Nov. 12, 1999 | 11:27 a.m.
THE ASSOCIATED PRESS
HARRISBURG, Pa. -- Rite Aid Corp., the heavily-indebted pharmacy chain, is considering selling all or most of its 1,000 West coast stores, the Wall Street Journal reported today.
Rite Aid has struggled with its West Coast operation ever since acquiring it from Thrifty PayLess in 1996 for $1.4 billion plus the assumption of $890 million in debt. The company has had trouble making money from the Western stores, many of which are far larger than Rite Aid's standard store.
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