Rite Aid store closings 2024: See the full list with 6 N.J. locations
How much debt is Rite Aid attempting to offload through these closures?
Rite Aid is attempting to offload more than $3.3 million in debt through the closures of 92 stores nationwide in 2024. The company has been shutting down hundreds of locations since filing for Chapter 11 bankruptcy in October 2023 and beginning to restructure in September.
What triggered Rite Aid's Chapter 11 bankruptcy filing in October 2023?
Rite Aid's Chapter 11 bankruptcy filing in October 2023 was triggered by a combination of factors, including mounting debt, high interest rates, declining sales, increasing operational costs, unprofitable stores, and legal troubles related to opioid lawsuits2. The company aimed to restructure and reduce its debt through this process.
How many Rite Aid stores remain open as of June 21, 2024?
As of June 21, 2024, there are 1,592 Rite Aid stores remaining open nationwide3. This number has decreased from over 2,000 stores due to closures since the company filed for Chapter 11 bankruptcy in October 2023.