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Rite Aid stores and pharmacies will be closed on December 25, 2023. A representative from Rite Aid told Country Living, "This is the first year our stores will be closed on Christmas Day.
Rite Aid said in the bankruptcy filing that it suffered roughly $2.9 billion in losses over the past six years. As part of a financial restructuring, the company said it is terminating leases for ...
The Pennsylvania-based drugstore chain Rite Aid announced on Sunday that it intends to close 154 of its stores as part of its recent bankruptcy filing and will be shuttering more throughout the ...
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [1] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with roughly 1,250 stores in 15 U.S. states, primarily on the East and West coasts.
Rite Aid is in much worse financial shape than its competitors. Over the past six years, Rite Aid has tallied nearly $3 billion in losses and its stock is down more than 90% for the year.
Rite Aid has obtained more than $100 million in financing to exit the bankruptcy proceedings, but the latest closure announcements suggest it still faces hurdles in getting official approval to do so.