Rite Aid is shutting down an additional 27 stores in Ohio and Michigan as the company continues to navigate its bankruptcy. The announcement comes after the company closed more than 520 store locations since filing for reorganization in October. The majority of the closures have occurred in Pennsylvania and nearby states, with over 100 shut downs in California.
Rite Aid filed for bankruptcy in October after struggling with declining sales and facing legal threats over its alleged involvement in the opioid crisis. The company was sued by the US Department of Justice in early 2023, which alleged that Rite Aid filled prescriptions for opioids oxycodone and fentanyl, drugs responsible for numerous overdose deaths each year.
Walmart, which acquired Rite Aid’s pharmacies and vision centers, has vowed to treat the affected communities with respect, compassion, and support throughout the transition. Walmart pharmacies and vision centers will continue to operate despite the closures.
Meanwhile, other major retailers such as Target, Walgreens, and Amazon Fresh have been affected by inflation, with Target struggling through a difficult quarter due to high prices keeping customers away. However, these retailers have responded by cutting prices, per a recent article.
