Rite Aid closing in Pulaski

Staff Report

Rite Aid in Pulaski will close June 5.

The Patriot learned of the closing today after viewing signs along the Food City parking lot in Pulaski, welcoming customers from Rite Aid’s pharmacy.

A Rite Aid store employee confirmed the closing and the June 5 closing date.

According to financial media reports, a planned merger between Rite Aid and Walgreens could be completed in the next few weeks.

The merger – originally announced in 2015 – has been held up awaiting regulatory approval by the Federal Trade Commission.

A January 2017 deadline to complete the deal was extended until the end of July.

Fred’s, Inc. – a Memphis-based drug store company – recently agreed to purchase 865 Rite Aid stores for some $950 million. That purchase will also have to pass regulatory approval.

Industry analysts believe that, if approved, the purchase will help sway the FTC to approve the Rite Aid-Walgreens merger.

Based in Pennsylvania, Rite Aid operates early 4,600 stores in 31 states and the District of Columbia.