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By Dan Cody
Digital Media Reporter
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Rite Aid Corporation, one of the nation's largest pharmacy chains, is preparing to close all of its remaining stores as part of ongoing bankruptcy proceedings. The closures mark the final phase in a process that began with the company filing for Chapter 11 bankruptcy protection in October 2023, amid mounting debt and hundreds of lawsuits over its alleged role in the opioid crisis.
The Philadelphia-based chain has already shuttered hundreds of locations over the past year, and court filings now show plans for a complete wind-down of its retail footprint. While Rite Aid has not officially confirmed a specific end date for operations nationwide, numerous individual stores have posted closing signs, and liquidation sales are underway across multiple states.
The retailer, that once operated more than 2,000 locations, has seen a dramatic reduction in footprint as the company seeks to resolve its financial obligations. Filings reviewed by the Associated Press show the final rounds of store closures are expected to be completed by mid-2025, effectively ending Rite Aid's role as a brick-and-mortar pharmacy provider in the U.S.
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Which States are Most Impacted by Closures?
According to the Rite Aid website, it has 1,240 stores across the U.S., a significant drop from its peak of more than 4,500 locations in the early 2000s.
Here are the states with the most locations:
- 347 stores in California
- 345 stores in Pennsylvania
- 178 stores in New York
- 95 stores in Washington
- 60 stores in New Jersey
- 48 stores in New Hampshire
- 48 stores in Oregon
- 31 stores in Virginia
- 29 stores in Delaware
- 23 stores in Maryland
- 15 stores in Connecticut
- 8 stores in Idaho
- 5 stores in Vermont
- 4 stores in Massachusetts
- 4 stores in Ohio
There were multiple store closures throughout 2024 and early 2025. In California alone, nearly 200 stores have been shut down or are in the process of liquidation. New York and Pennsylvania, where the company has its largest regional presence, are seeing dozens of closures as part of the final phase.
When Are Rite Aid Stores Closing?
Store closures are being implemented in waves, with some locations closing immediately and others expected to cease operations over the next several months. Liquidation notices began appearing at several locations as early as May 1, and employees at select sites have been informed that their stores will close by the end of May or early June.
Stores in the Southern Tier of New York, including Elmira and Horseheads, are slated to close by May 15. Similar timelines have been shared by employees in Pennsylvania, Ohio, Michigan and California, though exact closure dates vary by region and lease agreements.
Rite Aid has also terminated pharmacy operations in numerous locations ahead of retail closures, transferring prescription files to competitors such as CVS and Walgreens, often without direct input from patients. Customers are advised to check with local stores for specific closing timelines and to retrieve prescriptions or records before the final shutdown.
Rite Aid's parent company and financial advisers reportedly determined that selling or closing all locations was the most viable strategy to maximize value for creditors. Despite efforts to sell off portions of the business to potential buyers, including rival pharmacy chains and private investors, no offers met the necessary thresholds to keep stores open. The company said that resuming Chapter 11 bankruptcy proceedings was the only viable path forward.
Matt Schroeder, Chief Executive Officer of Rite Aid, said in a statement: "For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers. While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible."
Does Walgreens Own Rite Aid?
No, Walgreens does not own Rite Aid. Although Walgreens announced plans in 2015 to acquire Rite Aid for $9 per share in a full merger, the deal fell through because of regulatory concerns. In place of the merger, the two companies reached a scaled-down agreement in which Walgreens acquired 1,932 Rite Aid stores and three distribution centers for $4.4 billion. This deal was approved by the Federal Trade Commission and finalized in March 2018.
Following that, Rite Aid entered another proposed merger with supermarket chain Albertsons in 2018, which was also ultimately abandoned just before a shareholder vote because of pushback from investors. As a result, Rite Aid remained an independent company until its Chapter 11 bankruptcy filing in 2023.
What's Next
Rite Aid's exit from the retail pharmacy market marks the end of a legacy brand that once served millions of customers across the country. The company's prescription and health record databases are expected to be absorbed by other pharmacy chains, with Rite Aid confirming its intention to complete those transitions before final store shutdowns.
In the coming weeks, bankruptcy courts will continue to oversee asset sales, including store fixtures, real estate, and pharmacy data. Creditors, including landlords, suppliers, and municipalities involved in opioid litigation, are expected to receive partial payments as assets are liquidated.
Consumers who rely on Rite Aid for prescriptions, immunizations, or over-the-counter products are encouraged to transfer services to other providers as soon as possible. Customers may still contact Rite Aid's corporate website or customer service line for information about specific store closures and prescription transfers.
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