P.M. BRIEFING : Revco to Sell 220 Drugstores
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TWINSBURG, Ohio — Revco D. S. Inc., formerly the nation’s largest drugstore chain, announced plans today to sell 220 stores in five states to the Jack Eckerd Corp. of Clearwater, Fla.
The purchase price for the stores in Texas, Florida, Mississippi, Louisiana and Oklahoma was not disclosed, but it will be revealed in federal bankruptcy court filings during the next few weeks.
Revco has been under federal bankruptcy protection since July, 1988. It operates more than 1,800 stores in 27 states.
On Jan. 26, Revco announced it would sell 712 stores in 17 states, keeping only its 1,100 stores in Ohio, Pennsylvania, West Virginia, New York, Maryland, Virginia, Georgia, North Carolina, South Carolina and eastern Tennessee.
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