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POWELL, Ohio - Just days before filing for Chapter 11 bankruptcy protection, Drug Emporium began winding down operations in some of its marketing areas. The chain, which operated 131 stores at the beginning of the year, probably will slim down to roughly 80 units following its reorganization and acquisition by Snyder's Drug Stores.
In mid-March, Drug Emporium announced it would close 15 unprofitable stores in the metro Atlanta market. Because of the competitive nature of the Atlanta market, the stores had never been profitable, according to Drug Emporium chairman and chief executive David Kriegel.
CVS has acquired the pharmacy files and pharmacy inventories for those Atlanta stores. The front-end merchandise will be liquidated in a process that began during the last week of March and should last for six to nine weeks.
Drug Emporium also operates stores under the F&M Super Drug banner in the Detroit and Baltimore/Washington markets and...