Major drugstore chain files bankruptcy again after closing 800 stores
The American drugstore chain Rite-Aid has filed for bankruptcy for the second time in two years and is set to cut more jobs.
Rite-Aid on Monday stated that it is trying to sell all of its assets and that stores will stay open during the Chapter 11 proceedings.
The pharmacy chain filed for bankruptcy in October 2023, when it had more than 2,300 locations in 17 US states.
It then shuttered over 800 stores, but managed to get out of bankruptcy as a private company in September 2024.
Upon emerging, Rite-Aid stated that it had 'a rightsized store footprint, more efficient operating model, significantly less debt and additional financial resources'.
Rite-Aid was the third-biggest drugstore chain in the US before its bankruptcy two years ago. More Trending
It has 1,245 stores remaining in 15 states, according to its website.
Rite-Aid's CEO, Matt Schroeder, said that there is 'meaningful interest from potential buyers.
'For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers,' stated Schroeder.
'As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.'
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