US EditionRite Aid Selling Pharmacy Services of More than 1,000 Locations as Part of Bankruptcy
- Rite Aid revealed on Thursday that it will transfer pharmacy services from over a thousand of its stores to other major drugstore chains as part of its ongoing second bankruptcy process.
- The sales follow Rite Aid's filing for Chapter 11 bankruptcy earlier this month due to unforeseen liquidity issues and a roughly $4 billion debt load.
- Major pharmacy and grocery chains, including CVS Health, Walgreens, Albertsons, Kroger, and Giant Eagle, are purchasing Rite Aid pharmacy locations across 15 states, with CVS specifically taking full ownership and operation of 64 stores in the Northwest region.
- Rite Aid CEO Matt Schroeder emphasized that the deals are designed to provide pharmacy customers with uninterrupted service while safeguarding jobs for some team members throughout the phased sales process.
- The sale transactions are pending authorization from a bankruptcy court in New Jersey, which will hold a hearing on May 21, and the stores will stay open throughout the process to ensure uninterrupted care during the transition.
23 Articles
23 Articles
The Statesman
The TennesseanRite Aid reveals more store closures, bringing total to 142 across 12 states: See list
Rite Aid announced more store closures after reportedly agreeing to sell pharmacy assets from over 1,000 locations to various competitors.
Rite Aid Is Selling 1,000 Stores to Competitors, Including CVS and Walgreens - RetailWire
Defunct pharmacy chain Rite Aid is offloading assets, including over 1,000 stores. Seeing an opportunity, several other retailers, including longtime rivals, are lining up to buy them. So far, CVS Pharmacy is taking the lion’s share. The top drugstore chain in the country wants 625 Rite Aid pharmacies across 15 states as well as 64 stores in the Pacific Northwest. Other interested parties include Walgreens, Albertsons, Giant Eagle, and Kroger. “…
Rite Aid selling pharmacy services of more than 1,000 locations as part of bankruptcy
Thousands of Rite Aid customers may soon be visiting a new pharmacy. On Thursday, the national pharmacy chain announced it plans to sell the pharmacy services of more than 1,000 locations to competing pharmacies.
Coverage Details
Bias Distribution
- 82% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
