Rite Aid store closures continue to pile up amid the pharmaceutical giant’s second bankruptcy filing, and the company has placed a major target on California, with even more added to the list.
Rite Aid is now closing 360 stores in the U.S., according to the latest court filing on May 30, an increase from its initial 316 announced on May 5. That number could grow as the chain goes through Chapter 11 bankruptcy for the second time in two years. The drug store first filed for bankruptcy in October 2023 and said at the time it would close over 100 stores.
As the list of Rite Aid stores continues to dwindle, here’s the latest news on closures in California, including which locations were recently added.
Are all Rite Aid stores closing?
As of now, it has not been announced that all stores are closing. Rite Aid operates 1,222 stores in the U.S. across 15 states, according to their website. That list does not include the stores that are slated to close; however, with 360 closing, that would mean 862 stores would still remain open.
Rite Aid bankruptcy: Why are all Rite Aid stores closing?
In a release, CEO Matt Schroeder cited long-term financial challenges that were intensified by “rapidly evolving retail and healthcare landscapes. The company said it was pursuing a “strategic and value-maximizing sale process for substantially all of its assets,” which they say will help them emerge from the bankruptcy process…