Overview

• Rite Aid filed court documents on June 20 seeking approval to close 118 additional stores across 11 states.
• The total number of locations designated for closure has reached 947, amounting to nearly 74% of the 1,277 stores it operated when it filed for bankruptcy in May.
• No schedule for individual shutdowns has been disclosed and each closure remains subject to court sign-off.
• Competitor CVS Pharmacy plans to convert 64 of the divested locations in Idaho, Oregon and Washington, while Walgreens is acquiring prescription files from nine states.
• A court-approved auction is set for today to liquidate the chain’s remaining assets under its reorganization plan.