US Edition68 more Rite Aid stores in 7 states slated to close: Court docs
- Rite Aid announced its second bankruptcy filing in recent years last week and revealed plans to shut down nearly 70 additional locations across multiple states.
- This follows Rite Aid's continued financial struggles and a prior bankruptcy filing in October 2023 that reduced its store count significantly.
- Updated court documents added 68 more store closures across seven states to the initial plan of closing 47 stores, with Pennsylvania facing the highest number at 44 locations.
- The company secured $1.94 billion in funding to support its operations during the bankruptcy process and assured that employees will continue to receive their salaries and benefits throughout the restructuring and potential sale.
- These closures form part of Rite Aid's ongoing restructuring, suggesting further downsizing and store auctions expected around May if approvals proceed.
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Rite Aid hopes shoppers won't transfer prescriptions after second bankruptcy
RITE Aid doesn’t want customers to transfer their prescriptions to other pharmacies, despite its financial woes. The chain filed for Chapter 11 bankruptcy protection for a second time earlier this month. Rite Aid is hoping customers don’t transfer prescriptions yet (stock image)Getty Images - Getty Its first was in October 2023, and the company had around $8.6 billion in debt at the time. While it managed to cut that total by $2 billion and shed…
·New York, United States
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Leaning Left7Leaning Right1Center41Last UpdatedBias Distribution84% Center
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