Possible gift card warning: Rite Aid preparing for bankruptcy
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@MISTERCHEAP I didn’t see your thread in grocery & drugstore, please delete.
Rite Aid is blaming the opioid lawsuit settlements. But this was a long time coming.
As with any bankruptcy and possible store closures, gift cards are up in the air for now.
Wall Street Journal:
https://www.wsj.com/articles/rite-aid-prepares-bankruptcy-that-would-halt-opioid-lawsuits-69f94242
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Thanks! I just got more RA gc yesterday. Time to liquidate.
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I have about $150 in Bonus Cash. Is it time to go on a BC shopping spree? Hopefully it will be like Shop Your Way during bankruptcy. The SYW points were still good to use online and at any remaining stores.
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@mrvietnam said in Possible gift card warning: Rite Aid preparing for bankruptcy:
I have about $150 in Bonus Cash. Is it time to go on a BC shopping spree? Hopefully it will be like Shop Your Way during bankruptcy. The SYW points were still good to use online and at any remaining stores.
I think the unknown here with the 450 stores they plan to close, will they pull out of certain areas altogether versus a store here and a store there. Obviously pulling out totally leaving one w/no B&M option is an issue. However, we likely won’t see this happen until early 2024 (closings) and stores will have liquidation sales prior so hopefully one can use up their rewards and giftcards if you’ll never be B&M shopping at RA again.
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At least one of my stores is closing. They’ve already transferred merch to a store that will remain open.
I used to have 12+ stores, now only 4 and one of them is closing.
When stores converted to Wags I got to know what would be on clearance and when. I wonder if they’ll follow the same mark down schedule.
BC offers still worked even though items were e.g. 50% off.
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@my4mainecoons said in Possible gift card warning: Rite Aid preparing for bankruptcy:
At least one of my stores is closing. They’ve already transferred merch to a store that will remain open.
I used to have 12+ stores, now only 4 and one of them is closing.
When stores converted to Wags I got to know what would be on clearance and when. I wonder if they’ll follow the same mark down schedule.
BC offers still worked even though items were e.g. 50% off.I have had a couple stores close in my area within the past few months and when they decide to close they close quickly, usually after just 10–4weekNot everything goes on sale. Only about half the store goes on sale. Some things go for 50% off and others go for 75% off. Nothing goes any cheaper than 75% off and many items have no discount at all. They just transfer any unsold goods to a store that isn’t closing, and like you said, the BC deals are still in effect even when the products are marked down and they still let you pay with any BC you may have.
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@MrVietnam thanks for the 2 week time frame. Wags conversions took place over 4+ weeks with a % drop each week, e.g. 50% for a week, 75% x 2 weeks. I bought a lot of Nicorette and Pampers. Do you recall if those went to 75% off when your stores closed? The store that’s closing is 45 minutes away so I will only make one trip. I wouldn’t mind buying Nico and Pampers with RA gc.
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@my4mainecoons said in Possible gift card warning: Rite Aid preparing for bankruptcy:
@MrVietnam thanks for the 2 week time frame. Wags conversions took place over 4+ weeks with a % drop each week, e.g. 50% for a week, 75% x 2 weeks. I bought a lot of Nicorette and Pampers. Do you recall if those went to 75% off when your stores closed? The store that’s closing is 45 minutes away so I will only make one trip. I wouldn’t mind buying Nico and Pampers with RA gc.
Sorry, but I didn’t look to see if either Nico or Pampers were 75% off. The few things I remember that were 75% off were fragrances, stationary/school supplies, snd hosiery, but there may have been others. A lot of the store wasn’t in discount at all. The only food that was 50% off was the frozen foods (including Thrifty ice cream) and foods they called warehouse foods. That included canned goods, spaghetti sauce, breakfast cereal, granola bars, condiments, and similar things. Most of the snack foods had no discount.
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@mrvietnam Thanks. Very different from Wags conversions.
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Am I correct that I can purchase beer with a RA gc?
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For future reference, YMMV:
Makeup 75% off
Hair color 50% off
Diapers 50% off
Toothpaste 50% off
Household cleaners, air fresheners, laundry detergent 50% off
Pet supplies 50% off
Office & school supplies 50% off
Select hair care 50% off
GNC vitamins 50% off
Warehouse grocery including frozen food 50% off with some exclusionsNico, batteries, beverages, most poo/conditioner, insect repellent, analgesics are full price.
The store was given 2 week notice. Informed on a Sunday, closing in 14 days.
