Rite Aid closing 154 stores in 15 states: Here's the list
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Rite Aid Corp., which recently filed for Chapter 11 bankruptcy, plans to shutter 154 stores as part of its financial restructuring effort.
The closures will occur in 15 states across the nation as part of the voluntary bankruptcy process. However, Pennsylvania, California and New York will get hit the hardest with 39, 32 and 20 closures, respectively, according to court documents filed in bankruptcy court.
The company – the third-largest pharmacy chain in the U.S. — was already closing stores long before officially seeking protection in bankruptcy court on Sunday. In the year ending on Sept. 30, 2023, the company closed approximately 210 stores, leaving it with a total of 2,100 operating stores.
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A person leaves a Rite Aid on Oct. 16, 2023 in the Crown Heights neighborhood of the Brooklyn borough of New York City. (Michael M. Santiago/Getty Images / Getty Images)
Rite Aid said it initiated the voluntary court-supervised bankruptcy process with goals of reducing its debt load, increasing financial flexibility and executing «on key initiatives.» This includes the potential sale of Elixir Solutions, an acceleration in determining the best path forward for some of its stores and the resolve of legal disputes in «an equitable manner.»
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