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Bad Hand?Did East Pennsboro based Rite Aid Corp. Simply get dealt a bad hand in the high stakes retail drug store business? Or did the East Pennsboro based company misplay its cards time and again, leading to high debt and highly questionable management decisions that it could never overcome, opening the door for Walgreens? The company’s 53 year history holds the answers. Pictured: Vintage Rite Aid playing cards.Rite Aid’s troubled history of family drama, high debt and mismanagementDon’t EditBegan in 1962 with a single store in Scranton, Pa., called the Thrift D Discount Center, Rite Aid was the brainchild of founder Alex Grass, a Scranton born lawyer who entered the business world in the early 1950s after marrying into Harrisburg Lehrman family.

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