Complete list of Rite Aid pharmacies forced to close due to bankruptcy

Retail drugstore chains have been struggling from competition elsewhere as the dynamics of the business change after a period of overexpansion. This has led to a decision by the three biggest standalone pharmacy chains, CVS, Walgreen’s and Rite Aid, to close more than a thousand locations nationwide.

Rite Aid has been hit particularly hard, becoming heavily indebted as well as facing a plethora of lawsuits stemming from its role in the opioid epidemic. The legal issues have taken a severe toll on their balance sheets, and company leaders stated in their most recent earnings report that this year, they expect to see a net loss between $650 million and $680 million.

This news has taken a toll on the store’s stock price, which has lost around 94 percent of its value over the last six months. Earlier this month the Philadelphia-based company to file for Chapter 11 bankruptcy protection.

As part of the company’s restructuring, The Wall Street Journal reported Rite Aid will close as many as 500 stores. At least one bondholder is asking that it close even more of the more than 2,200 locations.

Changes coming to Rite Aid

It remains to be seen if Rite Aid will be able to overcome its financial troubles.

According to the company’s statement before a New Jersey court, the company will replace its CEO as a part of a dramatic restructuring program. The inevitable closure of dozens of branches will also form part of this process, with the company hoping to reduce expenses as it attempts to meet consumer demand.

So far, and according to legal documents obtained by USA Today, the company will close 154 locations throughout the United States. For now, 14 states will be affected by the closures: California, Connecticut, Delaware, Idaho, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Oregon, Pennsylvania, Virginia, and Washington.

Complete list of Rite Aid locations closing

According to the aforementioned media outlet, below, we share with you the complete list of all the Rite Aid locations that will close in the near future, according to USA Today.

California

Connecticut

Delaware

Idaho

Maryland

Massachusetts

Michigan

New Hampshire

New Jersey

New York

Ohio

Oregon

Pennsylvania

Virginia

Washington

Rite Aid is not alone in its financial troubles

This news from Rite Aid comes as its competitors CVS and Walgreens have faced walkouts by pharmacy staff who feel they have been pushed to their limits. The fact that all three chains are facing financial and staffing challenges is an indicator that their business model may be outdated and that further scaling back may be required in the future. However, for customers who depend on these stores to fill their prescriptions, fewer locations could force them to pay higher prices at more expensive retailers or travel a greater distance to get their medications.