After filing for bankruptcy twice since late 2023, a major pharmacy chain revealed a list of 47 stores they planned to close.
Inside Rite Aid’s Second Bankruptcy
On May 5, Rite Aid filed for Chapter 11 bankruptcy for the second time since October 2023. Shortly after the news went public, the pharmacy’s CEO, Matt Schroeder, sent an email to employees letting them know that over the next several months, all Rite Aid distribution centers will close and that all of the stores that survived the first bankruptcy will either close or re-banner under a new owner.
Surprised employees shared their termination letters on Reddit. One of them revealed Schroeder citing a dramatic downturn in the economy, potential litigation and increased costs (including tariffs) from suppliers and landlords as factors leading up to the bankruptcy and layoffs.
Impact of Rite Aid’s First Bankruptcy on Idaho
Naturally, Idaho customers who still shop at or get their prescriptions filled at Rite Aid wanted to know how the second bankruptcy would affect the eight remaining Idaho locations. Leading up to and throughout the first Rite Aid bankruptcy, Idaho lost these six Rite Aid Stores:
3250 S Eagle Rd, Meridian
1600 N Main Street, Meridian
5005 W Overland Road, Boise
660 E Boise Ave, Boise
10600 W Fairview, Boise
1100 S Vista, Boise
CVS to Rescue Some Idaho Rite Aid Locations
On May 15, Rite Aid added a press release to their website revealing that they’d be transitioning some of their pharmacy assets to other operators like CVS Pharmacy, Walgreens and Boise-based Albertsons…