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Rite Aid, once a leading U.S. pharmacy chain, announced on Friday (October 3) that it has closed all of its stores nationwide. The company, which operated over 2,000 stores as recently as 2023, has faced financial difficulties for years. Rite Aid filed for Chapter 11 bankruptcy in October 2023, allowing it to reduce $2 billion in debt and close hundreds of stores. However, the company still carried $2.5 billion in debt when it emerged from bankruptcy in 2024.
The company filed for bankruptcy protection again in May 2025, which led to the decision to close all remaining locations. Rite Aid closed its last 89 stores this week.
Rite Aid CEO Matt Schroeder emphasized the company's focus on ensuring uninterrupted pharmacy services for customers and preserving jobs for as many associates as possible.
Founded in 1962, Rite Aid was once one of America's largest pharmacy chains, operating more than 5,000 stores at its peak. However, it struggled to compete with larger rivals like CVS and Walgreens and faced numerous lawsuits related to prescription practices.
The company's website now helps former customers find new pharmacies and request their prescription records.