Massachusetts, October 11, 2025
News Summary
Rite Aid has closed all its stores nationwide, marking a significant shift in retail pharmacy in Massachusetts where it had four locations. This closure, stemming from bankruptcy, coincides with other local business changes, including REI’s closure and Ollie’s new opening. Foot traffic to small businesses has declined, while initiatives like ‘Massachusetts Means Business’ seek to ease regulations. Meanwhile, major healthcare providers are also undergoing workforce adjustments amid these economic challenges.
Boston
Major pharmacy chain closure and local impacts lead Massachusetts business update
Rite Aid, a major pharmacy chain, is now defunct and has closed all of its stores nationwide. This closure follows the company’s declaration of its second bankruptcy within two years. As of May 2025, Rite Aid had over 70 locations operational in New England, including four in Massachusetts. These developments represent the largest immediate retail pharmacy change affecting Massachusetts consumers and local commercial corridors.
Closures and retail shifts in the Boston area
REI Co-op will close its only Boston location at 401 Park Dr. in Fenway next year due to declining sales. The planned REI closure removes a specialty outdoor retailer from a prominent Fenway retail block and contributes to broader concerns about downtown and neighborhood retail vitality.
Ollie’s Bargain Outlet is set to open a new location at 353 John Fitch Hwy. in Fitchburg, Massachusetts, on October 15, 2025. This will be the fifth Ollie’s location in Massachusetts, with existing stores in Worcester, New Bedford, Plymouth, and Seekonk. The opening represents continued investment by discount retail chains in selected Massachusetts markets even as some national chains contract.
Small business foot traffic and economic indicators
A study indicated that foot traffic to small businesses in Massachusetts decreased by more than 1% month over month. Complementing that state-level trend, Fiserv’s September Small Business Index reported a year-over-year decline in foot traffic by 7.8% from September 2024 to September 2025. These measures point to weakening in-person customer visits that affect retail, service, and eating-and-drinking establishments across the state.
Healthcare rankings and workforce changes
Boston Children’s Hospital has been ranked among the best in the U.S. in behavioral and mental health. The hospital also secured top 10 rankings in multiple other medical categories, reinforcing its position as a leading pediatric care provider regionally and nationally.
Blue Cross Blue Shield of Massachusetts is offering voluntary buyouts to about 750 employees as it faces significant financial losses. The buyouts are offered to employees over 55 who have been with the company for at least 10 years, affecting 18% of its workforce of 4,200. This is the first time Blue Cross Blue Shield has offered buyouts since the late 1980s. The move is part of the insurer’s attempt to reduce payroll costs amid reported financial strain.
Policy response: regulatory relief initiative
A new statewide initiative called ‘Massachusetts Means Business’ has been announced to improve economic competitiveness and cut regulatory red tape for businesses. The initiative aims to eliminate a quarter of the regulations overseen by the Office of Consumer Affairs and Business Regulations (OCABR). Various industries, including cosmetology, barbershops, financial services, and grocery stores, will benefit from these regulatory changes. Governor Maura Healey stated that the ultimate goal is to keep businesses operating in Massachusetts and make compliance easier. The Worcester Regional Chamber of Commerce has expressed support for the initiative, addressing the regulatory hurdles faced by local businesses.
What this means now
The immediate picture for Massachusetts combines retail contraction in some sectors with targeted openings in others, falling foot traffic for small firms, insurer workforce reductions, and a policy push to ease regulatory burdens. These concurrent developments are likely to shape hiring, leasing, and consumer patterns in the short and medium term.
FAQ
What happened to Rite Aid?
Rite Aid, a major pharmacy chain, is now defunct and has closed all of its stores nationwide.
Why did Rite Aid close?
This closure follows the company’s declaration of its second bankruptcy within two years.
How many Rite Aid locations were in New England and Massachusetts?
As of May 2025, Rite Aid had over 70 locations operational in New England, including four in Massachusetts.
What is happening with REI in Boston?
REI Co-op will close its only Boston location at 401 Park Dr. in Fenway next year due to declining sales.
Are small business visits changing in Massachusetts?
A study indicated that foot traffic to small businesses in Massachusetts decreased by more than 1% month over month.
What does the Fiserv index show about foot traffic?
Fiserv’s September Small Business Index reported a year-over-year decline in foot traffic by 7.8% from September 2024 to September 2025.
Has Boston Children’s Hospital received recent recognition?
Boston Children’s Hospital has been ranked among the best in the U.S. in behavioral and mental health.
What is the Ollie’s Bargain Outlet update?
Ollie’s Bargain Outlet is set to open a new location at 353 John Fitch Hwy. in Fitchburg, Massachusetts, on October 15, 2025.
What workforce changes are happening at Blue Cross Blue Shield of Massachusetts?
Blue Cross Blue Shield of Massachusetts is offering voluntary buyouts to about 750 employees as it faces significant financial losses.
Who is eligible for Blue Cross buyouts?
The buyouts are offered to employees over 55 who have been with the company for at least 10 years, affecting 18% of its workforce of 4,200.
Has Blue Cross offered buyouts before?
This is the first time Blue Cross Blue Shield has offered buyouts since the late 1980s.
What is the ‘Massachusetts Means Business’ initiative?
A new statewide initiative called ‘Massachusetts Means Business’ has been announced to improve economic competitiveness and cut regulatory red tape for businesses.
What regulatory change does the initiative target?
The initiative aims to eliminate a quarter of the regulations overseen by the Office of Consumer Affairs and Business Regulations (OCABR).
Which industries will benefit from regulatory changes?
Various industries, including cosmetology, barbershops, financial services, and grocery stores, will benefit from these regulatory changes.
What is the stated goal of Governor Healey regarding the initiative?
Governor Maura Healey stated that the ultimate goal is to keep businesses operating in Massachusetts and make compliance easier.
Who has expressed support for the initiative?
The Worcester Regional Chamber of Commerce has expressed support for the initiative, addressing the regulatory hurdles faced by local businesses.
Quick reference table
| Item | Detail | Scope |
|---|---|---|
| Rite Aid | Rite Aid, a major pharmacy chain, is now defunct and has closed all of its stores nationwide. This closure follows the company’s declaration of its second bankruptcy within two years. As of May 2025, Rite Aid had over 70 locations operational in New England, including four in Massachusetts. | Nationwide / New England / Massachusetts |
| REI Co-op (Boston) | REI Co-op will close its only Boston location at 401 Park Dr. in Fenway next year due to declining sales. | Boston, Massachusetts |
| Foot traffic | A study indicated that foot traffic to small businesses in Massachusetts decreased by more than 1% month over month. Fiserv’s September Small Business Index reported a year-over-year decline in foot traffic by 7.8% from September 2024 to September 2025. | Massachusetts / State-level |
| Massachusetts Means Business | A new statewide initiative called ‘Massachusetts Means Business’ has been announced to improve economic competitiveness and cut regulatory red tape for businesses. The initiative aims to eliminate a quarter of the regulations overseen by the Office of Consumer Affairs and Business Regulations (OCABR). | Statewide (Massachusetts) |
| Blue Cross Blue Shield of Massachusetts | Blue Cross Blue Shield of Massachusetts is offering voluntary buyouts to about 750 employees as it faces significant financial losses. The buyouts are offered to employees over 55 who have been with the company for at least 10 years, affecting 18% of its workforce of 4,200. This is the first time Blue Cross Blue Shield has offered buyouts since the late 1980s. | Massachusetts / Company-level |
| Ollie’s Bargain Outlet | Ollie’s Bargain Outlet is set to open a new location at 353 John Fitch Hwy. in Fitchburg, Massachusetts, on October 15, 2025. This will be the fifth Ollie’s location in Massachusetts, with existing stores in Worcester, New Bedford, Plymouth, and Seekonk. | Massachusetts |
| Boston Children’s Hospital | Boston Children’s Hospital has been ranked among the best in the U.S. in behavioral and mental health. The hospital also secured top 10 rankings in multiple other medical categories. | National recognition |
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Additional Resources
- Telegram: Ollie’s Bargain Outlet Opening
- NBC Boston: Blue Cross Buyouts
- Stat News: Blue Cross Financial Struggles
- CBS News: Small Business Owner’s TikTok Deal
- Spectrum News: Massachusetts Means Business Initiative
- Wikipedia: Massachusetts
- Google Search: Massachusetts business news
- Google Scholar: Business trends in Massachusetts
- Encyclopedia Britannica: Massachusetts
- Google News: Massachusetts economy
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