Huff Pharmacy owners announce Rite Aid deal

Owners of a popular Corbin pharmacy, founded in the city’s downtown in 1960, announced Monday the company is being sold to national pharmacy and retailer Rite Aid.
Don Creech, co-owner of Huff Pharmacy, said the store would close its doors for good Dec. 10 after 45 years in operation.
“We’ve been working on the deal for the last few weeks,” Creech said. He is also a pharmacist at the store. “We were able to work out something that I think is beneficial to both companies. We did not particularly want to do it at this time, but it was a good deal for everyone concerned.”
Huff Pharmacy was founded in downtown Corbin by Dave Huff in 1960 when he purchased Begley Pharmacy. The company opened a branch on Cumberland Falls Hwy. in 1993, and eventually made it the main pharmacy in 1995 when Huff and Creech decide to close the downtown store.
The pharmacy has built a large, dedicated customer base over the years. Dave Huff said many families have used his store for generations, grandparents to grandchildren, for prescription and over-the-counter needs.
“It’s been a hard decision as far as the people who have stayed with us for 45 years,” Huff said. “They are customers but they are friends too.”
Creech said Rite Aid, which recently opened a new large retail store just across the road from Huff Pharmacy, has agreed to hire all of the store’s 13 employees.
“That was a major thing for us,” Creech said. “We want all of our customers taken care of and cared for the best way possible.”
Upcoming changes in Medicare and Medicaid prescription coverage plans are bringing an uncertain future for many pharmacies. Creech said the state has already lowered reimbursements to pharmacies, forcing stores to fill more prescriptions to overcome revenue deficits. He fears the upcoming changes could cut those reimbursements even more.
“We weren’t really sure how that was going to affect us. We feel Rite Aid has the resources and the technology available to them … they will be on top of everything so we can better serve our customers.”
Rite Aid has agreed to buy all of Huff Pharmacy’s stock. Creech said he’s hoping most of it can be sold before the store closes. Popular Vera Bradley purses, which the pharmacy has dedicated a significant amount of retail space too, are being discounted 30 percent.
Huff said Rite Aid has agreed to lease the current pharmacy store for two years, but will likely leave it vacant.