Rite Aid is closing its stores now that the company has filed for Chapter 11 bankruptcy. On May 5, 2025, the American drugstore chain announced its closure in a press release, which revealed that all or most of Rite Aid’s stores will shut down soon.
Rite Aid CEO Matt Schroeder said, “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.”
“To support Rite Aid during its sale process, which it intends to conduct under section 363 of the U.S. Bankruptcy code, the company has secured commitments from certain of its existing lenders to access $1.94 billion in new financing,” the press released indicated. “This financing, along with cash from operations, is expected to provide sufficient funding during the sale and court-supervised process.”
Below, learn about Rite Aid’s incoming closure and what will happen to pharmaceutical customers.
Today, Rite Aid re-entered Chapter 11 to sell our assets. During this process, customers can continue to access services and products in stores and online, including prescriptions and immunizations. For more information, visit: https://t.co/DSd3iP4vNQ
— Rite Aid (@riteaid) May 5, 2025
Are All Rite Aid Stores Closing?
According to the company, all Rite Aid stores could eventually close. The chain is seeking to sell all or a portion of its stores across the U.S.
“As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.” Schroeder added in the press release by the company, “I will be forever grateful to our thousands of associates for their commitment to Rite Aid and its mission, and I thank our entire team – from store associates to corporate employees – for their dedication to our customers and our company. With their support, we have played a critical role in supporting the healthcare needs of countless Americans across the communities that we are honored to serve.”
Is the Rite Aid Pharmacy Closing?
Yes, since Rite Aid stores are closing, its pharmacies will too. However, according to the company’s press release, customers “can continue to access pharmacy services and products in stores and online, including prescriptions and immunizations” during the next steps of its Chapter 11 bankruptcy.
“In connection with the sale process and court-supervised proceedings, the company is working to facilitate a smooth transfer of customer prescriptions to other pharmacies,” Rite Aid’s press released indicated. “Rite Aid employees assisting with this process will continue to receive pay and benefits.”
Why Is Rite Aid Closing Its Stores?
Schroeder attributed Rite Aid’s closure to financial setbacks that were “intensified by the rapidly evolving retail and healthcare landscapes.”
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