by Rite Aid Corporation, one of the nation’s largest pharmacy chains, is set to permanently close 95 stores nationwide in 2025. This move comes as part of the company’s ongoing Chapter 11 bankruptcy proceedings, which began in October 2023.
What Happened
Rite Aid, headquartered in Philadelphia, has been steadily closing stores as it navigates significant financial difficulties, including heavy debt and lawsuits tied to the opioid crisis. The recent announcement confirms the final wave of closures, marking a major step toward winding down much of its retail presence.
Although an official nationwide closure date has not been declared, many stores already display “closing” signs, and liquidation sales are underway across multiple states.
Key Details
- Initially, the company filed court documents citing 47 store closures, but the list quickly expanded to 95.
- Pennsylvania leads with 69 stores closing, followed by California (25), Oregon (14), Maryland (3), and Delaware (1).
- Other affected states include Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Virginia, and Washington.
- Rite Aid is working to transfer customer prescriptions to other pharmacies smoothly.
- The company is selling assets like prescription files to competitors including CVS, Walgreens, Kroger, and Albertsons.
- Non-closing Rite Aid stores will remain operational, continuing pharmacy services.
Reactions or Statements
Matt Schroeder, Rite Aid CEO, said,
“While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. Our key priorities remain ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.”
A message from Rite Aid to customers states that the bankruptcy and asset sales are “the only viable path forward” for the company.
Investigation or What’s Next
- The bankruptcy process continues under U.S. Bankruptcy Court oversight in New Jersey.
- Rite Aid has reached settlements with lenders, including the U.S. Department of Justice and McKesson Corp.
- Customers at closing stores are encouraged to transfer prescriptions promptly to avoid interruptions.
- The company will focus on sustaining remaining operations and exploring potential acquisitions or restructuring.
FAQs
Q: How many Rite Aid stores are closing in 2025?
A: A total of 95 Rite Aid stores are scheduled to close across the U.S.
Q: Which states will see the most closures?
A: Pennsylvania will see the highest number with 69 store closures, followed by California and Oregon.
Q: Will my local Rite Aid pharmacy still operate?
A: Stores not listed for closure will remain open and continue offering pharmacy services.
Q: What happens to my prescriptions at a closing store?
A: Rite Aid is facilitating the transfer of prescriptions to other pharmacies to ensure no disruption.
Q: Why is Rite Aid closing these stores?
A: The closures are part of Rite Aid’s bankruptcy restructuring due to financial challenges and opioid litigation.
Summary / Final Takeaway
Rite Aid’s decision to close 95 stores is a significant development in the company’s ongoing bankruptcy and restructuring efforts. Customers in affected areas should prepare to transfer prescriptions and monitor store announcements for updates.
While closures affect many locations, Rite Aid aims to maintain uninterrupted service at its remaining stores and is pursuing strategic options to stabilize its business.
