Overview

• Rite Aid has filed for Chapter 11 bankruptcy for the second time in less than two years, citing financial challenges and industry shifts.
• The company plans to auction its remaining 1,200-plus locations, with the process expected to begin this month, according to court filings.
• An initial list of 47 stores across nine states has been submitted for closure, pending court approval.
• Rite Aid has secured $1.94 billion in financing to sustain operations, ensure uninterrupted pharmacy services, and preserve jobs during the proceedings.
• The chain’s financial struggles are linked to mounting debt, legal liabilities from the opioid crisis, and challenges competing in a consolidated healthcare landscape.