Rite Aid’s Demise: Higher Prices & Fewer Pharmacies Ahead
Facing another bankruptcy filing, Rite Aid will close or sell all 1,245 of its stores within the next few months. The company plans to sell assets, including prescription files and inventory, while ceasing new inventory purchases, leading to increasingly bare shelves. Although prescriptions and other services will remain available until closure, Rite Aid will soon discontinue rewards points, gift cards, returns, and exchanges. The transfer of prescription files to other pharmacies is underway, but customers may experience challenges finding nearby alternatives, particularly in rural areas.
John Q. Hosedrinker