Overview

• The latest court filing outlines closures of 151 additional stores across 10 states, marking the largest single cut since the Chapter 11 case began three weeks ago.
• With these closures, Rite Aid will have shuttered or sold more than 360 of its 1,277 stores, exceeding a quarter of its national footprint.
• The company has struck deals to offload most pharmacy assets—CVS will assume prescription files for 625 locations and acquire 64 stores in Washington, Oregon and Idaho, while Walgreens, Albertsons and others will absorb additional operations.
• Stakeholders have until June 2 to file objections to the proposed closures, bids for remaining assets are due by June 13 and a court-supervised auction is scheduled for June 20.
• All stores will stay open during the transition to facilitate prescription transfers and customers must use gift cards, coupons or rewards by June 6, with returns accepted until June 4.