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Rite Aid, once a prominent national pharmacy chain, has closed all its stores across the United States. The company, which was headquartered in East Pennsboro Township, Pennsylvania, before moving to Philadelphia in 2022, confirmed the closures on its website, thanking loyal customers for their support over the years. The final two stores closed on September 29 in Bainbridge Island, Washington, and Bend, Oregon.
Rite Aid filed for Chapter 11 bankruptcy in May, marking its second filing in less than two years. The company had struggled with financial challenges, including competition from larger chains and a debt exceeding $4 billion due to legal battles over alleged unlawful opioid prescriptions. After emerging from its first bankruptcy in September 2024, Rite Aid attempted to stabilize by selling off assets and closing about 500 locations. However, continued financial difficulties led to the decision to shutter all remaining stores.
The company transferred prescription files to competitors like CVS Pharmacy, Walgreens, Albertsons, and Kroger to ensure customers could continue accessing their medications. According to PennLive, CVS took over 64 Rite Aid stores in Idaho, Oregon, and Washington.
Founded in 1962, Rite Aid once operated over 1,200 stores across 15 states, from California to Vermont. Despite efforts to maintain operations, including a strategic sale process for its assets, the company could not overcome its financial hurdles. As reported by 6abc, the closures reflect a broader trend in the pharmacy industry, where competition and financial pressures have led to the shutdown of many stores.