Funny how Brooks, bought some Rite-Aid store, then acquired Eckerd then after failing in finances from the Eckerd acquisition sold off all of its drug stores in the US back to Rite-Aid. The reason? The JCPenney co lied to the Jean-Coutu group about the profitability of the Eckerd stores. It was not the stores themselves but the technology in the stores over 20 years old. There was a major investment the Jean-Coutu company had to make after the transaction was complete, but could not afford.
Funny how Brooks, bought some Rite-Aid store, then acquired Eckerd then after failing in finances from the Eckerd acquisition sold off all of its drug stores in the US back to Rite-Aid. The reason? The JCPenney co lied to the Jean-Coutu group about the profitability of the Eckerd stores. It was not the stores themselves but the technology in the stores over 20 years old. There was a major investment the Jean-Coutu company had to make after the transaction was complete, but could not afford.
xanadu247 3 years ago
We had Brooks in my area once. We had lots of Eckerds, though. Too many mergers!
johnsposato 4 years ago
Yea...we're still waiting.
iampaidfor 4 years ago
haha, not anymore. Rite Aid- here we go!!!
Mindfixation 5 years ago