Drugstores did well during the pandemic due to COVID-19 vaccinations, but are now seeing less foot traffic and fewer prescriptions.
Three prominent national drugstore chains are grappling with escalating pressures, prompting them to shut down hundreds of stores across the U.S.
In the bankruptcy court documents, the pharmacy chain listed all the locations slated for closure but refrained from specifying the closure dates for each store. The company said it had secured $3.45 billion in new financing to support the remaining stores and employee salaries during the restructuring. Currently, Rite Aid has a workforce of over 50,000 people, which includes over 6,000 pharmacists.
Last week, Walgreens pharmacy employees from 500 locations across the U.S. walked off the job to protest pharmacy conditions.
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