How Many Locations Does Rite Aid Maintain?

Rite Aid, a leading drugstore chain in the U.S., is facing bankruptcy and is closing hundreds of stores as part of its restructuring process. The company filed for bankruptcy in October and announced it will shutter 154 stores nationwide, including 30 locations in California. As part of its bankruptcy restructuring, Rite Aid is closing 27 more stores in Michigan and Ohio. The total number of stores increased from 2,447 stores in Q3 2021 to 2,488 stores in Q3 2022, marking an increase of 1.68 (41 stores) on a year-on-year basis.

Rite Aid is closing 10 additional stores on top of the 154 it planned to shut down after filing for bankruptcy in October. In 2023, Rite Aid operated 2,309 stores throughout the United States, down from 4,623 a year ago. The company has filed to close over 800 locations nationally since filing for bankruptcy in the fall. Since October, the company has announced in bankruptcy filings the closing of 813 stores. It has since closed more than 520 locations in bankruptcy, or about a quarter of the 2,111 stores that the retailer had been operating when it filed for bankruptcy in October.

Rite Aid has closed approximately 30 locations across the US in addition to the 100 it announced last month as part of its restructuring. The company has also announced it will close 53 more store locations, adding to the roughly 200 it has shuttered since filing for Chapter 11 bankruptcy protection last year. Rite Aid has listed 165 closed Michigan stores in court documents, nearly all of the 185 currently operating since declaring bankruptcy last year.

How many Rite Aid stores are there in California?

A total of 351 Rite Aid stores are currently operational within the state of California.

Is Rite Aid losing money?

Rite Aid, a US pharmacy chain, has reported a $307 million loss between March and May 2023, and a loss of about $3 billion over the past six years. The company, which employed over 6, 100 pharmacists and operated 2, 100 retail pharmacy locations across 17 states, plans to close 154 stores nationwide. It now operates around 1, 416 stores in 16 states. Rite Aid also sold off some of its businesses, including its Elixir Solutions business, to MedImpact Healthcare Systems for $577 million in February. The company’s bankruptcy court documents indicate a significant reduction in its footprint.

What went wrong at Rite Aid?

Rite Aid, the third-largest drugstore chain in the United States, has encountered considerable difficulties as a consequence of prolonged mismanagement and misguided decision-making. The company’s decision to file for bankruptcy in October was precipitated by the accumulation of liabilities associated with lawsuits pertaining to the distribution of opioids and the prevailing challenges within the retail pharmacy sector. In an article published by The Wall Street Journal, the company’s unfortunate history was detailed, with particular emphasis placed on the significant losses incurred over an extended period of time.

How many Rite Aid stores are in Washington?

A total of 98 Rite Aid stores are currently operational in the state of Washington.

What is the Rite Aid scandal?

The US government has filed a complaint alleging that Rite Aid knowingly dispensed at least hundreds of thousands of unlawful prescriptions for controlled substances from May 2014 to June 2019. These prescriptions included the dangerous “trinity” combination of drugs, excessive quantities of opioids, and prescriptions issued by prescribers identified as suspicious. The government claims that Rite Aid filled these prescriptions despite clear “red flags” that indicated the prescriptions were unlawful.

Rite Aid also allegedly ignored substantial evidence of its stores dispensing unlawful prescriptions and intentionally deleted internal notes about suspicious prescribers. The government alleges that Rite Aid violated the CSA and the Federal Food and Drug Administration (FDA) by knowingly dispensing unlawful prescriptions for controlled substances. The complaint names Rite Aid Corporation, Rite Aid Hdqtrs Corp., Rite Aid of Connecticut Inc., Rite Aid of Delaware Inc., Rite Aid of Maryland, Rite Aid of Michigan, Rite Aid of New Hampshire, Rite Aid of New Jersey, Rite Aid of Ohio, Rite Aid of Pennsylvania, and Rite Aid of Virginia as defendants.

The Department of Health and Human Services Office of Inspector General (HHS-OIG) is entering into a Corporate Integrity Agreement with Rite Aid, which includes a prescription drug claims review to have an Independent Review Organization determine whether prescription drugs are properly prescribed, dispensed, and billed.

How many Rite Aid stores are in New York?

A total of 181 Rite Aid stores are located within the state of New York.

How many Rite Aid’s are left in the United States?

As of September 15, 2024, there were 1, 552 Rite Aid pharmacies in the United States. Pennsylvania had the highest concentration of these pharmacies, with 352 locations, representing approximately 23% of all Rite Aid pharmacies in the country. The state and territory with the highest concentration of Rite Aid locations is Pennsylvania, which has a total of 1, 552 pharmacies. This data was last updated on September 15, 2024.

Is Rite Aid going out of business in 2024 in the USA?

In consequence of the ongoing bankruptcy proceedings, Rite Aid stores in Michigan and Ohio are scheduled for closure. The most recent announcement of closures was made in August 2024.

Why are Rite Aid stores closing in NYC?

Rite Aid will close 59 stores in New York, accounting for 8. 4% of the 699 closures announced. The pharmacy chain filed for Chapter 11 bankruptcy in October to reduce debt. U. S. Bankruptcy Judge Michael Kaplan approved the plan, allowing Rite Aid to cut $2 billion in debt and transfer control to lenders. The company plans to exit bankruptcy soon, funded by $2. 55 billion in lenders’ financing.

What stores are going to shut down in 2024?

A total of 11 retail brands are projected to terminate operations at 1, 601 US locations in 2024. Family Dollar, the largest chain, has announced plans to close at least 600 stores. Additionally, Walmart and TJX are engaged in a dual strategy of store closures and openings. Individuals may access personalized feeds and opt out at any time by visiting the Preferences page or clicking “unsubscribe” at the bottom of the email.

Why is Rite Aid closing in California?

Rite Aid has announced the closure of 98 stores in California, representing 14% of the 699 closures announced to date. In October, the company filed for Chapter 11 bankruptcy in order to reduce its debt. Of the 699 stores that were the subject of bankruptcy filings, 80 are located in Pennsylvania, the state in which Rite Aid is headquartered. Since filing for bankruptcy in October, the company has been engaged in the process of closing hundreds of stores.