Overview

• Rite Aid has entered its second Chapter 11 bankruptcy in 18 months, citing financial challenges and legal liabilities.
• The company announced the closure of 115 stores across 10 states, representing just under 10% of its 1,240 locations.
• Nearly all remaining Rite Aid stores are expected to be listed for sale, with auctions for pharmacy assets beginning May 14.
• Rite Aid has secured $1.94 billion in rescue financing to maintain operations during the restructuring process.
• The company emphasizes uninterrupted pharmacy services and smooth prescription transfers for customers during closures.