50 Brands on the Brink of Declaring Bankruptcy

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Rite-Aid wanted to merge with competitor Walgreens not too long ago, and part of that was because it was competing with CVS Health, too. Well, like many other stores in the same market, it’s not doing too well. The CEO stated the pharmacy was “acting with urgency” to change its trajectory, but recent projections aren’t looking too good.

Rite-Aid

Following the failed merger, Rite Aid faced declining sales and increasing debt, and the company has been working to restructure its operations and reduce costs. In 2019, Rite Aid announced plans to close approximately 600 stores, which represented around 20% of its total store count at the time. The company also implemented other cost-saving measures, such as reducing corporate staff and changing its supply chain processes.

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Did you know...

  • Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
  • Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.
  • Once you've handled all your money, you should probably wash your hands. Money is some of the dirtiest things that we own. In fact, it's been found to be dirtier than a household toilet! During flu season, the virus can live on a bill for up to 17 days. That's just plain disgusting!
  • Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!
  • There are over 1.6 million automated teller machines around the world. And that really does mean the entire world. There are even two ATMs on Antarctica at McMurdo Station operated by Wells Fargo. Friday is the most popular day that ATMs are used worldwide, and the average withdrawal is around $80.