Rite Aids could be closing down as company eyes second bankruptcy in two years [View all]

Source: The Independent

Friday 25 April 2025 22:51 BST


Rite Aid stores across the country could soon be closing down as the company reportedly considers filing for its second bankruptcy in two years.

The troubled drugstore chain previously filed for Chapter 11 bankruptcy in 2023, which resulted in more than 800 store closures. Rite Aid still operates more than 1,200 stores in the U.S.

Chapter 11 bankruptcy is a form of bankruptcy under the US Bankruptcy Code that allows a debtor, typically a business or individual, to reorganize their finances and debts, rather than liquidate their assets.

According to Bloomberg, Rite Aid Corp. is now running low on cash and preparing once again to sell itself as a second bankruptcy looms. The company intends to sell individual stores and close the rest, sources told the outlet. The Independent has reached out to Rite Aid Corp. for confirmation and comment on the reports.

Read more: https://www.independent.co.uk/news/world/americas/rite-aid-bankruptcy-store-closure-b2739783.html