After 33 years of business in Beverly Hills, the Rite Aid at 463 N. Bedford Drive will close its doors permanently on March 21. The closure is one of 63 announced at the end of last year, after the company reported a net loss from continuing operations of $36.1 million. The move is expected to save the corporation about $25 million per year. While Rite Aid’s lease is set to expire on March 31, 2023, city officials maintain that the closing of this store was not the city’s decision. The Rite Aid located at 300 N. Canon Drive will remain open.
According to Rite Aid employees, the company notified staff on March 7 that its doors will be closing on March 21.
