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Ceremony Assist formally filed for Chapter 11 chapter safety on Sunday, Oct. 15. As of June, the pharmacy chain had a whopping $3.3 billion in long-term debt, CNN reported, citing the corporate’s final monetary report. Ceremony Assist confirmed that it has secured $3.45 billion in new financing from lenders, however the firm can be planning to close down underperforming areas to remain afloat. Initially, it wasn’t clear which shops would shut—or what number of—however now, it has been confirmed that 154 shops are on the chopping block. Learn on to search out out the place.
RELATED: Large Pharmacy Crash: Walgreens Closing Shops and Ceremony Assist Declares Chapter.
At present, Ceremony Assist operates roughly 2,051 shops within the U.S., however that quantity will dwindle within the close to future. In keeping with courtroom paperwork filed yesterday, Oct. 17, closures have an effect on 15 states.
In an announcement to Finest Life, a spokesperson for Ceremony Assist confirmed that some shops included within the submitting have already closed and obtained ample discover, whereas the remaining shops will shut within the coming weeks. The courtroom submitting contains the shop numbers and property addresses, which you can too cross-check on Ceremony Assist’s retailer locator web page. In keeping with the corporate spokesperson, Ceremony Assist will proceed to replace this a part of its web site.
“Like all retail companies, we recurrently evaluation every of our areas to make sure we’re assembly the wants of our clients, communities and total enterprise. A call to shut a retailer is one we take very critically and relies on quite a lot of components, together with enterprise technique, lease and hire issues, native enterprise circumstances and viability, and retailer efficiency,” the spokesperson stated.
They confused that Ceremony Assist will “make each effort” to make sure entry to well being providers and facilitate the switch of consumers’ prescriptions. The corporate additionally famous that, when doable, they work to switch present staff to different Ceremony Assist areas.
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By way of closures on the West Coast, California can be hit the toughest.
The state will bid farewell to 31 retail pharmacies in complete, together with three areas in Los Angeles, two areas in San Diego, and particular person shops in Downey, Lengthy Seaside, Burbank, Covina, La Puente, Alhambra, Oceanside, Ramona, Menifee, Dana Level, Laguna Niguel, Yorba Linda, Santa Ana, Ventura, Oxnard, Cupertino, Santa Clara, Santa Cruz, Atwater, Citrus Heights, Sacramento, Costa Mesa, Ontario, La Mirada, Irvine, and Monterey.
RELATED: 6 Banks, Together with Wells Fargo and Financial institution of America, Closing Branches This Fall.
Ceremony Assist is whittling down its presence fairly a bit in New York, New Jersey, and Pennsylvania.
Pennsylvania really beats California in complete closures, as roughly 39 in-state Ceremony Assist areas are closing, together with 11 in Philadelphia alone. Two areas every in Pittsburgh and Erie are additionally out, as are particular person spots in Quakertown, New Kensington, Rochester, Bethel Park, Moon Township, Greensburg, Export, New Fort, Bethlehem, Allentown, Conshohocken, Hanover, Mechanicsburg, Pennsburg, Abington, Johnstown, Levittown, Ardmore, West Pittston, Yardley, Tobyhanna, Yeadon, Chester, and Titusville.
In keeping with the submitting, New York is saying goodbye to twenty Ceremony Assist two shops in Brooklyn, in addition to particular person shops in Oceanside, Valley Stream, Bay Shore, Bellmore, Copiague, East Northport, Huntington Station, Medford, Oyster Bay, West Patchogue, Port Jeff Station, Smithtown, Kenmore, Rochester, Cheektowaga, Floral Park, Flushing, and Levittown.
New Jersey is dropping 12 shops in West Milford, Mantua, Mullica Hill, Robbinsville, Toms River, Whiting, Tinton Falls, Haledon, Irvington, Lumberton, Somerset, and Williamstown.
RELATED: Staples and Workplace Depot Are Closing Places.
The remaining closures have an effect on 11 different states. Michigan has Ceremony Assist areas on the chopping block in Fremont, Greenville, Grand Ledge, Macomb, Sturgis, Wixom, Shelby Township, Jackson, Taylor, Manistee, Backyard Metropolis, Detroit, Farmington Hills, St. Johns, and Lansing. Each Flint and Clinton Township are dropping a pair of Ceremony Assist shops every, bringing the entire depend for Michigan to 19.
Washington will bid adieu to 11 Ceremony Aids, together with two in Bellevue, and single shops in Seattle, Lynwood, Redmond, Graham, Renton, Mill Creek, Burien, Everett, and Lacey.
Ohio is dropping six areas in Massillon, New Carlisle, Dayton, Youngstown, Springfield, and Bellefontaine, whereas Maryland will lose two in Baltimore, two in Glen Burnie, and particular person Ceremony Aids in Bel Air and Eikton.
Delaware is dropping two shops in Newark and Wilmington, whereas two Idaho shops, in Boise and Meridian, are closing as nicely. Virginia additionally has two on the chopping block, each in Chesapeake. The remaining states are solely dropping one Ceremony Assist apiece in Bethel, Connecticut; Webster, Massachusetts; Merrimack, New Hampshire; and Portland, Oregon.
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