Rite Aid To Close 154 Stores In Bankruptcy Process

The New York Times reports:

On Sunday, Rite Aid, once the largest U.S. pharmacy chain, filed for bankruptcy court protection from its creditors and vowed to remake the company as a “modern neighborhood pharmacy.” Now, in one of its first steps, it says it is closing 154 stores in more than 10 states.

The branches set to be shuttered were detailed in a filing on Tuesday in bankruptcy court in New Jersey. The store closings are meant to help Rite Aid save money on rent and improve its financial footing.

Rite Aid stores in Pennsylvania, California and New York will take the brunt of the closures. About 40 locations in Pennsylvania will be shut. More closings are expected as the company works to rid itself of billions of dollars in debt. It has about 45,000 employees, including 6,100 pharmacists.

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Rite Aid says it’s closing 154 U.S. stores as part of its recent bankruptcy filing. Here’s where they are. https://t.co/tw5TMRuy5m

— CBS News (@CBSNews) October 19, 2023