Gray Drug

{{short description|Drugstore chain in Cleveland, Ohio, United States}}

{{Infobox company

| name =

| logo = Gray Drug Stores.svg

| logo_caption =

| logo_upright =

| logo_alt =

| type =

| industry = Pharmacy

| predecessor =

| founded = 1912

| founder = Adolph Weinberger{{cite web | url=https://case.edu/ech/articles/w/weinberger-adolph#:~:text=WEINBERGER%2C%20ADOLPH%20(5%20Jan.,1891%2D16%20Dec. | title=Weinberger, Adolph | date=12 May 2018 | publisher=Encyclopedia of Cleveland History | accessdate=May 3, 2022}}

| defunct = 1987

| fate = Sold to Rite Aid

| successor =

| hq_location_city = Cleveland, Ohio

| hq_location_country = United States

| area_served = Ohio

| key_people =

| products =

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}}

Gray Drug was an American drugstore chain in Cleveland, Ohio. The chain began in 1912{{cite web|url=http://ech.case.edu/ech-cgi/article.pl?id=GDSI |title=Encyclopedia of Cleveland History:GRAY DRUG STORES, INC |publisher=Ech.case.edu |date=1997-07-16 |accessdate=2012-05-13}} and grew to 46 stores by 1946 and over 100 by the 1970s.{{cite book|url=https://books.google.com/books?id=L87PAAAAIAAJ&q=%22Gray+drug%22+%22rink%27s%22 |title=The Outlook - Standard and Poor's Corporation - Google Books |year=1977 |accessdate=2012-05-13}}{{cite book|url=https://books.google.com/books?id=IT1NVT1vEwUC&q=%22Gray+drug%22+%22cleveland%22&pg=PA706 |title=Cleveland: The Making of a City - William Ganson Rose - Google Books |isbn=9780873384285 |accessdate=2012-05-13|last1=Rose |first1=William Ganson |year=1990 }} Besides Ohio, stores later opened in Florida and Maryland.{{cite book|url=https://books.google.com/books?id=FvDXAAAAMAAJ&q=%22Gray+drug%22+%22rite+aid%22 |title=International directory of company histories - Jay P. Pederson - Google Books |isbn=9781558625082 |accessdate=2012-05-13|last1=Gant |first1=Tina |year=2004 }} The chain later acquired Alexandria, Virginia-based Drug Fair in 1981, shortly before Sherwin-Williams bought the chain. Gray Drug acquired several Cunningham Drug stores in 1982.

The company entered the discount department store business by acquiring the Cincinnati-based Rink's Department Store chain in 1964[https://newspaperarchive.com/evening-independent/1964-06-22/page-2 "Rink Store Chain Bought By Gray Drug"]. Evening Independent, June 22, 1964, Page 2.[http://m.limaohio.com/lifestyle/reminisce/article_319b628a-3e7e-11e2-a9ac-0019bb30f31a.html "Lining up for a bargain at Rink’s"] {{Webarchive|url=https://web.archive.org/web/20140103104134/http://m.limaohio.com/lifestyle/reminisce/article_319b628a-3e7e-11e2-a9ac-0019bb30f31a.html |date=2014-01-03 }}. Lima News. and the Cleveland-based Bargain City chain in 1967.[http://www.toledoblade.com/Deaths/2004/07/08/Retailer-opened-Bargain-City.html "Retailer opened Bargain City"] Toledo Blade, July 8, 2004.

Gray Drug was sold to Rite Aid in 1987.{{cite web|url=https://www.nytimes.com/1987/05/02/business/gray-drug-fair-sale.html |title=Gray Drug Fair Sale - New York Times |work=The New York Times |date=1987-05-02 |accessdate=2012-05-13}}

In 2023, Rite Aid, the successor to Gray Drug, filed for Chapter 11 bankruptcy.{{Cite web|url=https://www.cnn.com/2023/10/15/business/rite-aid-bankrupty-hnk-intl/index.html|title=Rite Aid files for bankruptcy|date=October 15, 2023|access-date=October 16, 2023|website=CNN|language=en}} On May 5, 2025, Rite Aid filed for Chapter 11 bankruptcy for the second time in 2 years, listing assets and liabilities between $1 billion and $10 billion, blaming financial challenges such as debt, increased competition, and inflation.{{Cite web|url=https://www.reuters.com/business/healthcare-pharmaceuticals/rite-aid-intends-file-second-bankruptcy-announces-job-cuts-bloomberg-news-2025-05-05/|title=Rite Aid files for second bankruptcy in two years|first=Dietrich|last=Knauth|date=May 5, 2025|access-date=May 5, 2025|website=Reuters|language=en}}