Overview

• Rite Aid has filed for Chapter 11 bankruptcy for the second time in less than two years, citing financial challenges and legal liabilities.
• The company operates 1,240 stores across 15 states and has begun auctioning off most of its locations as part of a structured wind-down process.
• Court filings reveal that 47 stores across nine states are identified for a first wave of closures, subject to court approval.
• Rite Aid is selling real estate and leases for over 20 locations in Maryland, including a large distribution center, as part of its asset liquidation efforts.
• Pharmacy services, including prescription access and transfers, will continue uninterrupted during the proceedings, and employees will keep receiving pay and benefits.