Major Drug Store Chain Has Announced It Has Closed ALL Stores In The United States | WLT Report Skip to main content
We may receive compensation from affiliate partners for some links on this site. Read our full Disclosure here.

Major Drug Store Chain Has Announced It Has Closed ALL Stores In The United States


It’s the end of era.

Rite Aid which was at one time found in many towns and cities across the United States is no more.

On its website, Rite Aid has announced it has closed all of their remaining stores in the United States.

The company filed for bankruptcy in 2023.

ADVERTISEMENT

CBS News broke the story and shared details on the fall of Rita Aid:

Rite Aid is closing all locations, according to a recent post on the U.S. pharmacy chain’s website.

“All Rite Aid stores have now closed. We thank our loyal customers for their many years of support,” read a post at the bottom of the Rite Aid website.

Rite Aid filed for bankruptcy in May, the second such filing in nearly two years. The company also filed for bankruptcy in October 2023 and said at the time that the restructuring would “significantly reduce the company’s debt” while helping to “resolve litigation claims in an equitable manner.” Rite Aid said it planned to close down 154 stores after the filing.

The company obtained $3.45 billion in fresh financing as it carried out a restructuring plan and dealt with dips in sales and opioid-related lawsuits.

KOCO reported more on the process that led to Rita Aid to close all of its stores:

Rite Aid emerged from that bankruptcy in September 2024, having slashed $2 billion in debt, securing $2.5 billion in funds to maintain operations and closing about 500 locations. In May, Rite Aid had about 1,250 remaining stores, cut by about half from its 2023 operations.

The drugstore announced in May that it sold most of its US stores’ pharmacy services to rivals CVS Pharmacy, Walgreens, Albertsons and Kroger, which collectively claimed more than 1,000 locations.

It’s a saving grace for former Rite Aid customers, who may have otherwise lost access to their nearest pharmacy. When drugstores permanently close, as has been the trend in recent years, patients often have to travel farther to get their medications, posing a larger risk to older adults.

ADVERTISEMENT

CVS announced in November 2021 that it would close 900 stores by 2024 after it had closed 244 stores between 2018 and 2020. Former Walgreens CEO Tim Wentworth had told the Wall Street Journal last year that about 25% of its stores aren’t profitable, and the company announced in October 2024 that it would close 1,200 stores.



 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Leave a comment
Thanks for sharing!