Oct. 5 (UPI) — After filing its second bankruptcy in May, the chain of Rite Aid drugstores have officially closed.
The store, which officially opened in 1962, began the large-scale shuttering of locations across the nation amid its first bankruptcy filing, in October 2023.
The company had some $4 billion in debt at that time amid lawsuits related to the company’s apparent handling of opioid medications.
In May, Matt Schroeder, Rite Aid’s CEO, said their financial woes were related to “the rapidly evolving retail and healthcare landscapes,” USA Today reports.
The store offloaded its prescription services to other pharmacies, including CVS, Walgreens, Albertsons, Kroger and Giant Eagle, and sold it’s ice cream brand to Hilrod Holdings, the outlet continued.
“All Rite Aid stores have now closed,” a statement on the company’s website now reads. “We thank our loyal customers for their many years of support.”
The chain had 89 active locations prior to the closing.