American Drugstore Chain Rite Aid Shuts Down Its Last Locations
This prominent US drugstore chain Rite Aid has announced the shutdown of its last stores.
On Saturday, the firm's website was replaced with a message stating: "Every Rite Aid stores have currently shut down. We thank our dedicated customers for their long-standing of support." The site also included a option for patrons to obtain their pharmacy files.
Founded in 1962, the company was at one time one of the largest drugstore retailers in the country. In its heyday, Rite Aid operated around 5,000 stores.
But in recent years, the company faced financial struggles and a Justice Department probe. As of last Friday under 100 stores were still open.
Rite Aid had filed for Chapter 11 in October 2023 and again in May 2025.
The firm also faced legal issues over its role in the prescription painkiller epidemic. In 2022, Rite Aid paid as much as $30 million to resolve lawsuits alleging it contributed to the flow of painkillers in the US.
In the subsequent year, in its 2023 bankruptcy submission, the firm stated that restructuring would help it "settle legal disputes."
Rite Aid also encountered a federal lawsuit in which officials claimed the firm's locations filled illegal prescriptions for oxycodone and fentanyl. The firm agreed to settle in July 2024.
Additional US drugstore chains have likewise been closing retail locations throughout the country, though different factors have been mentioned.
Over the past few years, CVS has closed over 1,000 locations as part of a strategic initiative.
In a similar vein, Walgreens, which was not long ago acquired by private equity firm Sycamore Partners, shut down 500 stores in the last twelve months.
Analysts have expressed concerns about growing "pharmacy dead zones" in the US, where millions of residents reside without a pharmacy nearby and must commute to get prescriptions dispensed.
