Overview

• Court documents filed last week show over 700 Rite Aid stores have been earmarked for closure since May, affecting nearly a dozen states with most closures in California, New York and Pennsylvania.
• The closures require bankruptcy court approval and could face objections before any shuttering takes place.
• Rite Aid listed nearly all of its roughly 1,240 stores for sale in May and currently lists 1,207 active locations on its website.
• CVS agreed to acquire 64 former Rite Aid outlets in Idaho, Oregon and Washington with Walgreens taking on prescription files from pharmacies in nine states.
• Rite Aid will keep its doors open during the transition as it works with customers to transfer prescriptions to acquiring chains.