Rite Aid is closing its stores after bankruptcy: what will happen to the customers?
7 may 2025 в 01:13
Rite Aid is closing its stores now as the company has filed for Chapter 11 bankruptcy. On May 5, 2025, the American pharmacy chain announced its closure in a press release, noting that all or most Rite Aid stores will soon be closing.
Rite Aid CEO Matt Schroeder said, «For over 60 years, Rite Aid has proudly provided pharmacy services and products to our loyal customers. While we continue to face financial challenges exacerbated by rapidly changing retail and healthcare landscapes in which we operate, we are encouraged by significant interest from a number of potential national and regional strategic buyers».
«To support Rite Aid during the sale process, which it intends to conduct in accordance with Section 363 of the US Bankruptcy Code, the company has secured commitments from some of its existing lenders for $ 1.94 billion in new financing», - the press release stated. «This financing, along with cash from operations, is expected to provide sufficient funding during the sale process and court supervision».
According to the company, all Rite Aid stores may ultimately close. The chain aims to sell all or part of its stores across the US.
«As we move forward, our key priorities are to ensure uninterrupted pharmacy service for our customers and to preserve jobs for as many employees as possible», - Schroeder added in the company’s press release. «I will forever be grateful to our thousands of employees for their dedication to Rite Aid and its mission, and I thank our entire team — from store employees to corporate staff — for their dedication to our customers and our company. With their support, we have played a critical role in meeting the healthcare needs of countless Americans in the communities we have the honor to serve».
Yes, as Rite Aid stores are closing, their pharmacies will also close. However, according to the company’s press release, customers «may continue to access pharmacy services and products in stores and online, including prescriptions and immunizations» during the next steps of the Chapter 11 bankruptcy process.
«In connection with the sale process and court procedures, the company is working to ensure a smooth transition of customer prescriptions to other pharmacies», - the Rite Aid press release stated. «Rite Aid employees assisting in this process will continue to receive wages and benefits».
Schroeder attributed the closure of Rite Aid to financial setbacks that were «exacerbated by rapidly changing retail and healthcare landscapes»
Rite Aid CEO Matt Schroeder said, «For over 60 years, Rite Aid has proudly provided pharmacy services and products to our loyal customers. While we continue to face financial challenges exacerbated by rapidly changing retail and healthcare landscapes in which we operate, we are encouraged by significant interest from a number of potential national and regional strategic buyers».
«To support Rite Aid during the sale process, which it intends to conduct in accordance with Section 363 of the US Bankruptcy Code, the company has secured commitments from some of its existing lenders for $ 1.94 billion in new financing», - the press release stated. «This financing, along with cash from operations, is expected to provide sufficient funding during the sale process and court supervision».
According to the company, all Rite Aid stores may ultimately close. The chain aims to sell all or part of its stores across the US.
«As we move forward, our key priorities are to ensure uninterrupted pharmacy service for our customers and to preserve jobs for as many employees as possible», - Schroeder added in the company’s press release. «I will forever be grateful to our thousands of employees for their dedication to Rite Aid and its mission, and I thank our entire team — from store employees to corporate staff — for their dedication to our customers and our company. With their support, we have played a critical role in meeting the healthcare needs of countless Americans in the communities we have the honor to serve».
Yes, as Rite Aid stores are closing, their pharmacies will also close. However, according to the company’s press release, customers «may continue to access pharmacy services and products in stores and online, including prescriptions and immunizations» during the next steps of the Chapter 11 bankruptcy process.
«In connection with the sale process and court procedures, the company is working to ensure a smooth transition of customer prescriptions to other pharmacies», - the Rite Aid press release stated. «Rite Aid employees assisting in this process will continue to receive wages and benefits».
Schroeder attributed the closure of Rite Aid to financial setbacks that were «exacerbated by rapidly changing retail and healthcare landscapes»
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