In 2023, about an independent pharmacy is closed every day, and it is expected that the numbers are similar to this year, according to the National Community Pharmacists Association.
Rite Aid has given bankruptcy for the second time in less than two years.
The drug store series announced Chapter 11 facts On Monday, I stated in a press statement that they were “following the process of selling a strategy and the valuable institution to all its assets.”
“For more than 60 years, Rite Aid was a proud provider of pharmacy services and products for our loyal customers,” Matt Schroeder, CEO of Rite Aid, said in a statement.
The previous restructuring of Rite Aid has reduced the American pharmacy chain but failed to face its long -term trade challenges of inflation and increased competition by the pharmacy chains of Walgreens, CVS, Walmart and Amazon.
Rite Aid to close more than twenty stores amid bankruptcy procedures
A man is shopping inside a resistance store under the Deepcam camera in New York City, New York, United States, June 25, 2020. (Lucas Jackson / Reuters)
“While we continued that Facing financial challenges, It is intensified by advanced landscapes for retail and health care in which we work, we are encouraged through calm interest from a number of potential national and regional strategic buyers. As we move forward, our main priorities are to ensure pharmacy services without interruption for our customers and maintain jobs for the largest possible number of colleagues. ”
After the changes after the protection file of Chapter 11 October 2023, Rite Aid was still $ 2.5 billion of debt When it came out of bankruptcy as a private company owned by its lender in 2024.
RITE AIDs for bankruptcy, a new leadership is determined in the Financial Restructuring Initiative
The Rite Aid Store Series announced Chapter 11 bankruptcy procedures on Monday 5 May 2025. (Michael M. Santiago / Getty Images)
The second bankruptcy pharmacy chain enters the smaller retail emissions. It was running about 2000 pharmacists in 2023, but now it has 1,240 stores all over the United States with a closing recently, which greatly reduces its presence in markets such as Ohio and Michigan.
Rite Aid announced the submission of bankruptcy for the second time in two years on Monday. (Angus Mordant / Bloomberg / Getty Images)
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The company said, “Customers can continue access to pharmacy services and products in stores and online, including medical prescriptions and immunization,” the company said.
In addition, Rite Aid employees will continue to receive wages and benefits “while transferring customer recipes to other pharmacies, the company said.
Reuters contributed to this report.
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