PHILADELPHIA — Rite Aid plans to plans to close about 7% of its stores initially, as the drugstore chain makes its way through its Chapter 11 bankruptcy process.
The company submitted a list of 154 stores in a court filing. Most of the chain’s stores are on the East and West Coasts, and the list reflects that. Several locations in New York, New Jersey, Pennsylvania, California and Washington made the list. The company also plans to close some stores in Michigan and Ohio as well.
Rite Aid, which operates more than 2,100 retail pharmacy locations across 17 states, will close stores in:
- Pennsylvania — 38
- California — 31
- New York — 20
- Michigan — 19
- New Jersey — 12
- Washington — 10
- Ohio — 6
- Maryland — 4
- Delaware — 2
- Idaho — 2
- Connecticut — 1
- Massachusetts — 1
- New Hampshire — 1
- Oregon — 1
- Virginia — 1
The owned and leased stores range from 6,400 to 37,154 square feet. Some are located in downtowns, strip centers and power centers, while others are freestanding — including high-visibility stores with drive-thru windows.
The company said it also will continue assessing its footprint, and closing underperforming stores.
Rite Aid has received a commitment for $3.45 billion in debtor-in-possession financing to support its business. Rite Aid is continuing to deliver leading health care products and services across its retail and online platforms for the nearly 1 million customers it serves daily. Rite Aid said it is making every effort to ensure customers of impacted stores have access to health services, whether at another Rite Aid or a nearby pharmacy, and will work to transfer prescriptions accordingly so that no disruption of services occurs. The retailer will also transfer associates at impacted stores to other Rite Aid locations where possible.
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