A popular pharmacy just made a big financial move—will your meds be affected?
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If you’ve picked up medications, stocked up on essentials, or used pharmacy services, recent news may have you concerned.
A national pharmacy chain has officially filed for Chapter 11 bankruptcy, again, raising questions for customers across the country.
What does this mean for your prescriptions? Your local store? Your access to care?
On May 5, Rite Aid filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of New Jersey.
This follows a previous Chapter 11 filing in October 2023, after the company reported $750 million in losses.
The company emerged from that first bankruptcy with $2.5 billion in debt, even after closing stores, cutting liabilities, and settling lawsuits over opioid prescriptions.
Now, despite previous restructuring efforts, Rite Aid is once again seeking relief—this time with nearly $1.94 billion in new financing to keep stores running during proceedings.
Rite Aid says its top priority is keeping pharmacy services running smoothly.
Customers should expect to continue accessing their prescriptions, with transfers arranged if stores close.
The company says, "Working to facilitate a smooth transfer of customer prescriptions to other pharmacies."
The company has not released a detailed list of store closures. However, job cuts are expected, according to internal communications reported by Bloomberg News.
Rite Aid currently operates 1,240 stores across 15 states.
The company has received interest from national and regional buyers, and is reportedly looking to sell assets while maintaining operations during the bankruptcy.
While stores are expected to remain open for now, the situation remains fluid.
Rite Aid is not alone. Pharmacy chains across the US—including CVS and Walgreens—have also closed hundreds of stores due to tightening profit margins and growing competition.
Retail pharmacies are being squeezed by:
The rise in "pharmacy deserts"—areas where residents lack convenient access to medication—has caught the attention of lawmakers and advocacy groups.
The National Community Pharmacists Association and others have raised concerns about the long-term effects of these closures on public health.
Read more:
Have you been impacted by a pharmacy closing near you? Do you have concerns about accessing prescriptions or health services during this time? Share your thoughts and questions in the comments—we’re all in this together, and your story could help someone else navigate what’s ahead.
A national pharmacy chain has officially filed for Chapter 11 bankruptcy, again, raising questions for customers across the country.
What does this mean for your prescriptions? Your local store? Your access to care?
On May 5, Rite Aid filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of New Jersey.
This follows a previous Chapter 11 filing in October 2023, after the company reported $750 million in losses.
The company emerged from that first bankruptcy with $2.5 billion in debt, even after closing stores, cutting liabilities, and settling lawsuits over opioid prescriptions.
Now, despite previous restructuring efforts, Rite Aid is once again seeking relief—this time with nearly $1.94 billion in new financing to keep stores running during proceedings.
Rite Aid says its top priority is keeping pharmacy services running smoothly.
Customers should expect to continue accessing their prescriptions, with transfers arranged if stores close.
The company says, "Working to facilitate a smooth transfer of customer prescriptions to other pharmacies."
The company has not released a detailed list of store closures. However, job cuts are expected, according to internal communications reported by Bloomberg News.
Rite Aid currently operates 1,240 stores across 15 states.
The company has received interest from national and regional buyers, and is reportedly looking to sell assets while maintaining operations during the bankruptcy.
While stores are expected to remain open for now, the situation remains fluid.
Rite Aid is not alone. Pharmacy chains across the US—including CVS and Walgreens—have also closed hundreds of stores due to tightening profit margins and growing competition.
Retail pharmacies are being squeezed by:
- Declining prescription margins
- Competition from big-box and online retailers like Amazon and Walmart
- Operational pressures from legal and regulatory actions
The rise in "pharmacy deserts"—areas where residents lack convenient access to medication—has caught the attention of lawmakers and advocacy groups.
The National Community Pharmacists Association and others have raised concerns about the long-term effects of these closures on public health.
Read more:
- This pharmacy tip slashed this woman's prescription bill to $45—find out how!
- Why 23 CVS stores are closing—and what it means for your prescriptions
