From Yahoo Finance: 2025-05-06 12:34:00

Rite Aid is filing for bankruptcy again, leading to store closures or new ownership. The company plans to sell assets and customer prescription files as shelves empty out. Stores will remain open for a few months before closing or changing hands.

Customers can still fill prescriptions, get immunizations, and shop at Rite Aid for now. However, the company will stop issuing rewards points, honoring gift cards, accepting returns or exchanges. Eventually, all locations will close or be sold to new owners.

Prescription records will be sold to other drugstores, grocers, or retailers with pharmacies in a “smooth transfer” process. However, there is no guarantee that files will end up at a nearby location, especially in rural areas far from other pharmacies.

Rite Aid had been struggling with losses and store closures before its bankruptcy filing. Financial challenges, court settlements over opioid prescriptions, increased theft, and competition from online shopping and discount retailers have contributed to the company’s difficulties.

Walgreens, with significantly more stores than Rite Aid, recently agreed to be acquired by a private equity firm. This move highlights the challenges faced by traditional drugstore chains in the evolving retail landscape.

Read more: What customers can expect as Rite Aid closes or sells all its drugstores