bankrupt

Is Rite Aid filing bankrupt

Not yet, they seem to be hanging by the skin of their teeth. I think the stocks went to .32 today.

i'm sure it is just a matter of time with the way they run the company

I keep hearing we are going to file for bankruptcy

They may be able to re-organize, that is the proper way instead of looking for bailouts like the auto industry. I hope that Rite Aid survives, they need to do what it takes to make money in the stores, not what Jon Olsen or Mary Sammons can dream up. Cut down on waste, damages, backhauls and such. Stop the turnover problem and keep the same mgrs in the same stores to build repore and a regular customer base. Let skilled management show them how to make money. I had a DM that managed stores and worked for them like 30yrs or so.... He follows rules to the "T" but sometimes you have to do what it takes to make money. IE: I was in a store that did 20k a week in liquor sales. If you would buy x amount of cases you would get a free case or a break in price....He told me that we could not make deals with the liquor vendors, how stupid is that?

July 2009

Morgans Revenge wrote:

July 2009

Is that when they are filing bankrupt or is that when Forças Cósmicas comes in........

The Forças Cósmicas are omnipotent and omnipresent. They do not "come in".

Rite aid is so mismanaged, and at corporate one hand does not know what the other hand is doing...poor decisions made by people they do not fire has cost the company millions.

Now they are getting rid of some of the top performers in the newest round of restructuring and firings (Feb, 2009).

There is too much that they keep changing at a store level. Too many new programs that are only around for a month. Too many revisions on things that don't mater. No store right now has the allowed payroll to get anything done on time. If your store is caught up with eveything they need to do, then you're lying. I don't understand why in this day in age, it is so hard to find a job, yet everyone that works at our store could care less about being there. I don't know if it is there location we're at or what, but it seems everyone that we hire is a complete idiot. I have one part time cashier that has worked at our store for 2 years, and he doesn't know what to do on any given night unless you tell him specificly and then explain every detail of how to do it. Then you still end up doing it over because its half of the way it should be.

There are too many upper middle managers making 500K a year that serve no purpose. There is a new upper middle walking our store once every two weeks. Every time they come in they tell us that we are doing something wrong and that we are sopposed to do it this way instead. Then, the next time one of them come in, the way that the other person told us to do it is wrong and that it needs to be done a different way. There is too much time wasted on pointless things that they are telling us to do. Associates could be attending to some customers and making their experience worth wild so maybe they come back. a $30 or $25 Rx transfer coupon is not the way to go. Everyone is just taking advantage of it hopping from one company to another in order to get free merchandise. I have an independent drug company near by that stole all our Rx business when Rite aid took over. Because they are on a personal, first name basis with their customers. On a weekday in the middle of the month they fill at least 800 scrips. All the Upper middle's think we're amazing because we average 400 a day.

If Rite Aid has a chance, first off we need them to put some faith in their 20+ year managers, Give us some payroll dollars to help our customers, and stop sending people to check on us once a week.

everything you have written is true. i have been around for alot of years and have worked in alot of riteaids. when we think we are doing everything possiable for the company here comes the suits,,,, the policies keep changing from one round of upper managerment changes to another. i have worked for a number of dms and let me tell you i am still here and none of them are. what does that tell you? i really like my job, i love working for the customers and helping them. but we have been cut back so much in payroll that i run a register for 6 of my 10=12 hours a day. my full time cashiers(3 of them) with more that15 years of service are cut to 25 hours a week. my 2 partimers are lucking to be getting 10 hours a week. my assistant and my self work 60 hours a week to make up the lack. my store was making money until oct2008 and it has been down hill since then. when they cut the payroll they cut my customer service, when you have customers that have come to know you as a friendly and helpful place to shop and then there is only 1 person in the front end to run a register, check in vendors, do price changes, recalls, markdowns, office work oh and greet and wait on the most important thing the customer they wonder what the heck is going on. and they do not like it.
i wonder everyday what is going to happen. everyone says to hang in there, well i really dont have a choice. i have too many years in to walk away (although i really think they would like that because of my pay) getting rid of the oldtimers seems to be answer to the payroll problem. i see riteaid looking and being run like the dollar general and family dollars stores in the future(if there is a future) limited people working in the stores and for a low wage. well that got a lot off my chest. good luck to all of you .lets hope that someone in the ivory tower knows what the heck they are doing, because for the last 4 months we are going deeper in the hole and they are starting to throw dirt on top of us.

Everything both of you say is true... The problem is that the the upper management has forgotten who makes them the money. If we have no one in the stores its a snowball effect. I have seen a direct correlation between customer service and shrink as the labor cuts take effect. We can run without 17 vice presidents, can we run with no employees or store management???

i have to agree with everyone.what does management think they are doing cutting help in the stores.this is our business.the custmers notice there are less people working and the ones that are working are all very stressed.how does that help customer service?all the independents around us love rite aid.they tell me we are helping their stores because customers want better service.do you listen to the coments customers make on your weekly phone calls?they are all asking for more help.maybe upper management should listen to these calls and give our customers what they are asking for.or are they waiting for a couple of tragedies like what happened at walgreens-they haven't learned a lesson from that either.

this is the sleeziest company i have ever worked for.they care nothing about their employees.we are all hoping someone will buy the company and save us from the clowns running rite aid

CVS and Walgreens are way better and much more well-run companies than Rite Aid. I saw the light and left. I've talked to some of the people still there, and not one of them is happy. Just a crappy company all around. Lowball pay, no payroll, clueless upper management..and they wonder why their customer service has become terrible, its like a ghost town everytime I walk into a Rite Aid. I hope they go under so that the people that have become drones to the company find themselves a better job or educate themselves and get a degree. Sure beats slaving away at a low paying dead end job for eternal hours.

Poorly run dc. Rite Aid from top to bottom is sleezy. Mary has done what even a thief couldn't destroy the company.

recently announced no annual increases effective immediately until Feb 2010. any still going like with payroll in stores and higher demands with 2-3 planogram resets a week coming down....better customer service on the way hahaha

like--->light

Our store manager hires friends and dum asses. a lot of our employees talk on their cell phones two to three hours per shift. The ass. manager talks more than anyone (at least three to four hours per shift) Tension is thick in the store between co-workers. Even between management. Yesterday, the management was yelling across the store at each other. One even said, "I'm gonna bust your mouth." This is the managers behaving this way.

The favorites (friends of the manager) as we all call them, hide and do nothing. On the other hand, the rest of us can do nothing right, but do all the work. We will have 4 associates hiding while 1 is working. I think the manager hires dum asses because she thinks they are too stupid to know whats going on.

If one person must do most of the work, then they shouldn't have to listen to the praises of the favorites (who do nothing).

From the associates view, we have to do the work, be put down all the time, and deal with the drunks.

It is a sad situation at rite aid.

I have been with Rite Aid for over 10 years but went on monster.com for the first time. when i first started, ra was good to me and flexible. but since the buyout everything has gotten progressively worse. i see classmates that get great wages/bonuses. then i sysms about salary freezes for a year. more work...less help...very sad