In 2023, approximately an independent pharmacy closed every day, and similar figures are expected for this year according to the National Community Pharmacist Association.
Rite AID has filed its bankruptcy for the second time in less than two years.
The chain of pharmacies announced on Monday the procedures for Chapter 11, indicating in a press release that they “continue a strategic sales process and maximizing the value for almost all of its assets”.
“For more than 60 years, Rite Aid has been a proud provider of pharmacy and products to our loyal customers,” said Matt Schroeder, CEO of Rite Aid, in a statement.
The previous Rite Aid Rite has reduced the debt of the American pharmacy chain, but has failed to meet its long -term commercial challenges of inflationary pressures and increased competition by the Walgreens, CVS, Walmart and Amazon pharmacy chains.
Rite AID to close more than two dozen stores in the midst of bankruptcy procedures
A man shops in a Rite Aid store under a Deepcam security camera in New York, New York, United States, June 25, 2020. (Lucas Jackson / Reuters)
“Although we have continued to deal with financial challenges, intensified by the retail and rapidly evolving health landscapes in which we operate, we are encouraged by a significant interest in a certain number of potential national and regional strategic actors. While we are doing before, our main priorities are uninterrupted pharmacy services for our customers and Possible partners, “said Schroeder.
After changes after the protection deposit of chapter 11 of chapter 11 of October 2023, Rite Aid still had $ 2.5 billion in debt when it came out of bankruptcy as a private company belonging to its lenders in 2024.
Rite Aid is deposited for bankruptcy, appoints a new leadership in the financial restructuring initiative
The Rite Aid pharmacies chain announced chapter 11 bankruptcy procedures on Monday, May 5, 2025. (Michael M. Santiago / Getty Images)
The pharmacy chain enters its second bankruptcy with a smaller retail footprint. It operated around 2,000 pharmacies in 2023, but has only 1,240 stores across the United States, recent closings considerably reducing its presence on markets such as Ohio and Michigan.
Rite Aid announced the bankruptcy for the second time in two years on Monday. (Biting angus / bloomberg / getty images)
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The company said that “customers can continue to access pharmacy services and stores in stores and online, including prescriptions and vaccinations”.
In addition, Rite Aid employees “will continue to receive wages and benefits” while transferring customer prescriptions to other pharmacies, said the company.
Reuters contributed to this report.
