Rite Aid, the U.S. pharmacy chain, has closed all of its locations after filing for bankruptcy. The company, which had previously filed for bankruptcy in October 2023, cited restructuring efforts and faced challenges including declining sales and opioid-related lawsuits. The website now offers support for former customers.
Rite Aid is closing all locations, according to a recent post on the U.S. pharmacy chain's website.'All Rite Aid stores have now closed. We thank our loyal customers for their many years of support,' read a post at the bottom of the Rite Aid website.
CBS News reached out to Rite Aid for comment on Saturday.Rite Aid filed for bankruptcy in May, the second such filing in nearly two years. The company also filed for bankruptcy in October 2023 and said at the time that the restructuring would 'significantly reduce the company's debt' while helping to 'resolve litigation claims in an equitable manner.' Rite Aid said it planned to close down 154 stores after the filing.The company obtained $3.45 billion in fresh financing as it carried out a restructuring plan and dealt with dips in sales and opioid-related lawsuits.More than 520 Rite Aid pharmacies have closed since October 2023, which is about a quarter of the 2,111 open at the time of the bankruptcy filing.The Justice Department filed a complaint against Rite Aid in March 2023, accusing the company of violating the False Claims Act and the Controlled Substances Act by filling unlawful prescriptions for drugs such as oxycodone, fentanyl and benzodiazepine and ignoring internal red flags about the prescriptions, CBS News reported.The website for the company founded in 1962 now only shows a service to help former customers find a new pharmacy and a link to request pharmacy records.
Rite Aid Bankruptcy Store Closures Pharmacy Opioid Crisis
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