Rite Aid bankruptcy closes another ‘underperforming’ Boise-area store. Will more follow?

Angela Palermo
·2 min read
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Another Boise-area Rite Aid pharmacy has shuttered since the drugstore chain filed for bankruptcy.

The company’s store at 5005 W. Overland Road in Boise closed Friday, according to a sign on the door. Customers who used to pick up their prescriptions at that store were transferred to the Rite Aid at 1100 Vista Ave. in Boise.

It’s the third Treasure Valley Rite Aid store to close recently. The company has closed two Meridian stores since August, at 3520 S. Eagle Road and 1600 N. Main St. Six Valley stores remain.

The property where the latest closed store sits, near the intersection of Overland Road and Orchard Street, is listed for sale for over $3.9 million. The property includes the nearly 14,000-square-foot store built in 1998 and a 1,800-square-foot building the company subleases to Jiffy Lube next door.

Signs on the doors of a closed Rite Aid store at 5005 W. Overland Road in Boise tell customers to pick up their prescriptions at another Rite Aid pharmacy at 1100 Vista Ave. in Boise.
Signs on the doors of a closed Rite Aid store at 5005 W. Overland Road in Boise tell customers to pick up their prescriptions at another Rite Aid pharmacy at 1100 Vista Ave. in Boise.

Rite Aid doesn’t own the property. It is owned by Delaware-based RA2 Boise-Overland LLC. The tenant, identified as Thrifty PayLess in the listing, was acquired by Rite Aid in 1996 and has two years left on its lease.

Another Rite Aid pharmacy, at 10600 W. Fairview Ave. in Boise, is also listed for sale for over $3.3 million. A spokesperson for the company, however, said the roughly 14,000-square-foot store would not be closing.

The company’s store locator now lists these six stores in the Treasure Valley, including five in Boise. The Idaho Statesman contacted all six and verified that they remain open but was unable to learn whether all are expected to remain so:

  • 1515 W. State St., Boise

  • 1100 Vista Ave., Boise

  • 7020 W. State St., Boise

  • 660 E. Boise Ave., Boise

  • 10600 Fairview Ave., Boise

  • 2107 Blaine St., Caldwell

The company filed for Chapter 11 bankruptcy protection in October, citing declining sales and costs associated with more than a thousand lawsuits that claim the company filled illegal prescriptions for opioids and other painkillers. Rite Aid said it was preparing to close more stores nationwide as a result of the bankruptcy.

The chain operates more than 2,300 stores across 17 states. The Overland Road store’s closure was first reported by BoiseDev.

“In connection with the court-supervised process, we intend to close certain underperforming stores to further reduce rent expense and strengthen overall financial performance,” a Rite Aid spokesperson previously told the Statesman by email.

Rite Aid files for bankruptcy. 2 Boise-area stores already have closed. Will more follow?

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