Rite Aid Announces Closure of Additional 31 Stores Amid Bankruptcy

The move follows last month's closure of 154 locations, as the pharmacy chain grapples with financial losses and opioid lawsuits.

Rite Aid is closing an additional 31 stores across 12 states, following the closure of 154 locations last month.
The pharmacy chain filed for Chapter 11 bankruptcy protection last month, struggling under the weight of multiple opioid lawsuits.
Rite Aid's stock has plummeted 90% for the year, and it has lost $3 billion in the last six years.
The company's spokesperson stated that the stores slated for closure are underperforming and employees will be given the opportunity to transfer to other locations.
Rite Aid currently has around 2,300 pharmacies in 17 states, with at least 131 locations having been closed or announced to be closed, leaving roughly 2,000 stores open.