Rite Aid stores to close or be sold to new owner in bankruptcy

[BumRushDaShow]

Source: Axios

11 hours ago


All Rite Aid stores will close or be sold to a new owner in the coming weeks and months as the struggling retailer goes through its second Chapter 11 bankruptcy filing.

Why it matters: The Philadelphia-based drugstore chain is looking to sell both its pharmacy business and its stores, according to bankruptcy protection documents.
Rite Aid bankruptcy 2025

The big picture: Rite Aid faced a host of problems following its previous bankruptcy, including inventory shortages as vendors played hardball with the company on trade terms.

That "negatively impacted liquidity and prevented the company from replenishing its front-end stock," according to Fitch Ratings analyst Joshua Clark.

"The lack of inventory led to decreased sales, particularly in high-margin front-end products, exacerbating liquidity problems."

The company has also historically been "significantly burdened by its suboptimal lease portfolio," chief transformation officer Marc Liebman said in a court filing.

What we know about Rite Aid closing stores

By the numbers: The company has 1,240 stores in 15 states listed on its store locator website Wednesday.

California has 347 locations, Pennsylvania has 345 and New York has 178 locations.

The retailer has been closing stores for years before its 2023 bankruptcy filing, which it entered with more than 2,100 locations.

Read more: https://www.axios.com/2025/05/07/rite-aid-closing-stores-bankruptcy-filing

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I was just at mine yesterday morning and saw the signs on the door. I hope someone picks them up. Growing up, we used to have a "corner drug store" on my block where we had prescriptions filled but when that closed, I ended up at my current pharmacy, that has been at the same location for at least 50 years - first as a "Thrift Drug", then an "Eckerd's" and now a "Rite Aid". I am within driving distance of a couple CVSes and Walgreens, but those chains aren't doing much better.