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Rite Aid announces even more store closures as company restructures

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  • Staff Report 

Rite Aid has continued its series of store closures in New York, adding 13 more to the list this month as part of a broader effort to stabilize the company following its Chapter 11 bankruptcy filing last year. This latest round follows the closure of 130 stores earlier, bringing the total number of shutdowns in the state to over 40 in the past year.


The closures are part of approximately 500 nationwide store shutdowns by the Philadelphia-based pharmacy chain, which is restructuring its debt amid declining sales and legal challenges, including lawsuits related to the opioid crisis. Rite Aid secured $3.45 billion in new financing to support its operations and settlements.

The ongoing adjustments reflect a significant downsizing from Rite Aid’s peak, when it operated 4,600 stores. After selling nearly half of its locations to Walgreens in 2017, the company now runs 1,690 stores across the country, with more than 200 in New York alone.