93-3-WMR Audio on Demand presents the Preston and Steve show podcast.

And now, Preston and Steve's news updates with Kathy Romano.

Today is Tuesday, September 26th.

Good morning, Kathy.

Good morning in the news this morning.

Philadelphia-based R-aid pharmacy will soon

shutter hundreds of its stores nationwide. The closures are part of a bankruptcy plan coming in the

middle of mounting debt and legal threats. The pharmacy chain headquartered at the Navy Yard

already closed several local stores in recent months, including one at 23rd in Walnut and another

at 19th and arch Streets in Center City.

It's proposing to shutter an additional 25% of its stores, equating to some 400 to 500 locations.

It's still unclear exactly how many stores or employees will be affected in our area.

I'm just reading this morning that CVS is closing a whole bunch of stores as well.

So they already did. CVS announced nearly a thousand store closures in 2021.

I don't know if there's additional stores, Steve.

In 2021, they did close a thousand stores.

Pharmacies have been struggling due to an evolving landscape in this digital world,

but also how drugs are paid for reimbursement and sold at pharmacy level.

I never really liked ride aid. I don't know why either, you know. You have your pharmacy. You got your place, right? So CDS is kind of my pharmacy. Me too. I know. That is my name. Yeah, me too. Right aid. There was a right aid on Montgomery. Yeah, right here. Right. during the pandemic was like they had like a little supermarket inside.

So I would go get stuff there.

Okay.

And it was like, so now I have my Rite Aid numbers.

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