Rite Aid closing Market Street store

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Rite-Aid is closing its store on Market Street.

Going out of business signs have been posted at the location on the 800 block of Market Street and the website listed that the location is undergoing liquidation.

Rite Aid is currently being sold to grocery giant Albertsons with Walgreen’s buying a large chunk of the company’s locations around the country.

The sales were aimed at satisfying antitrust concerns.

A Walgreens operates in the vicinity of the Rite Aid.

It was not immediately known if the pending sale was related to the decision to close the store.

Rite Aid has not been in an expansion mode for many years as it recovered from an accounting scandal and dealt with stiff competition from CVS and Walgreens.

Market Street is changing rapidly, due to apartment construction in new and existing buildings.

The area has seen a continuing turnover of businesses over the years as the number of corporate jobs in the area diminishes and new residents move into the area.

Signs of a possible turnaround have appeared, thanks to the new apartments and the purchase of the DuPont Building, which will be converted into a modern headquarters complex for spin-off Chemours.

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