As the retail landscape evolves, major pharmacy chain Rite Aid faces challenges leading to the closure of additional stores.
The impact extends to California and Washington, affecting communities and sparking concerns about the overall state of the pharmacy industry.
Rite Aid’s Financial Woes:
Rite Aid’s financial troubles have been escalating since the closure of the Wenatchee store in March 2020. In October 2023, the company filed for Chapter 11 bankruptcy with over $3.3 billion in debt. Lawsuits related to opioid painkiller prescriptions played a role, leading to a plan to close a significant number of underperforming stores across 17 states.
Expanding Closures:
Initially, Rite Aid planned to close 154 stores nationwi, but recent reports indicate a significant uptick. The company has now announced the closure of 72 more locations, including 22 in California and four in Washington State. The affected Washington locations include:
- 1820 N 45th Street, Seattle
- 1825 Broadway, Everett
- 2028 East Isaacs Avenue, Walla Walla
- 23940 NE State Route 3, Belfair