In New Jersey, pharmacy chain Drug Fair has closed six of 40 locations and reports suggest it is considering a bankruptcy filing. The chain is also selling numerous stores to Walgreen. The store closings began unexpectedly last weekend and continued with in-store announcements today.
Drug Fair, which has a private-equity owner, also operates a dozen Cost Cutter discount stores across the state. Drug Fairs have been open since the 1950s.
Update, March 18: Walgreen is now buying all of Drug Fair and closing 11 locations in total. The rest of the stores will be converted to the Walgreen's name.
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