Rite Aid Shuttering 53 More Stores Amid Ongoing Bankruptcy, Legal Woes

A Rite Aid store is shown in downtown Los Angeles, Calif., on Oct. 16, 2019. (Mike Blake/Reuters)

Drugstore chain Rite Aid is closing yet more stores, this time across nine states, marking the latest since the Philadelphia-based company filed for bankruptcy.

Recent court filings with the U.S. District Bankruptcy Court in Trenton, New Jersey, show approximately 53 Rite Aid stores are closing in California, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania, and Virginia.

A Rite Aid spokesperson told Fox News that the company “notified the court of certain underperforming stores we are closing to further reduce rent expense and strengthen overall financial performance.”

It is not clear how many jobs will be impacted by the closures or when they will commence.

Rite Aid currently operates roughly 1,700 retail pharmacy locations in 16 states and has a workforce of more than 51,000, according to its official website.

The Epoch Times has contacted a Rite Aid spokesperson for further comment.

Related Stories

Rite Aid to Close 31 California Stores, 154 Nationally

10/18/2023

Rite Aid Files for Bankruptcy, Changes Leadership Amid Slowing Sales, Opioid Lawsuits

10/16/2023

Rite Aid filed for bankruptcy in October last year amid a slowdown in sales and mounting debt. The company is also facing multiple lawsuits alleging it ignored red flags when filling in hundreds of thousands of prescriptions for addictive opioid medication.

The company has denied those claims.

Rite Aid to Vote on Restructuring Plan

At the time, the company said it had reached a deal with lenders for a restructuring plan that would significantly slash its debts and improve its financial flexibility while allowing it to execute key initiatives.

Under its agreement with creditors, the drug store said it had received a commitment for $3.45 billion in debtor-in-possession financing, providing it with sufficient liquidity for its restructuring initiative.

In exchange, Rite Aid agreed to close unprofitable stores and resolve lawsuits, among other measures.

Since then, the troubled retailer has announced separate rounds of store closures in October, November, and January, amounting to roughly 200 closures, including the latest store shutdowns.

Rite Aid received bankruptcy court approval last month to begin voting on a restructuring plan that would turn over most of the company’s equity to its bondholders while still leaving open the possibility of a sale, according to Reuters.

The company said it expects to seek final court approval of its restructuring on April 22.

The latest Rite Aid stores to close down are as follows:

California

• 1208 West Redondo Beach Blvd., Gardena, California
• 1700 W Whittier Boulevard, La Habra, California
• 15924 Bellflower Boulevard, Bellflower, California
• 16491 Lakeshore Drive, Lake Elsinore, California
• 334 South Vermont Avenue, Los Angeles, California
• 5610 Stockton Boulevard, Sacramento, California
• 37950 47th St E, Palmdale, California
• 7224 Broadway, Lemon Grove, California
• 1030 South White Road, San Jose, California
• 14727 Rinaldi Street, San Fernando, California
• 7211 Elk Grove Boulevard, Elk Grove, California
• 439 Santa Fe Drive, Encinitas, California
• 1650 Decoto Road, Union City, California
• 888 Lincoln Boulevard, Venice, California
• 35946 Winchester Road, Winchester, California
• 3941 Spring Road, Moorpark, California
• 4037 Ball Road, Cypress, California
• 2500 North 10th Avenue, Hanford, California

Maryland

• 250 Englar Road, Ste 22, Westminster, Maryland

Massachusetts

• 10 Stafford Road, Fall River, Massachusetts

Michigan

• 42481 West 13 Mile Road, Novi, Michigan
• 11743 15 Mile Road, Sterling Heights, Michigan

New Jersey

• 235 N Maple Ave, Marlton, New Jersey
• 7835 Maple Avenue, Pennsauken, New Jersey
• 480 North Beverwyck Road, Lake Hiawatha, New Jersey

New York

• 139 Ronkonkoma Avenue, Lake Ronkonkoma, New York
• 283 West Jericho Turnpike, Huntington Station, New York
• 47 Niagara Street, Tonawanda, New York
• 2047 Sheridan Drive, Buffalo, New York
• 1910 Hempstead Turnpike, East Meadow, New York
• 960 Halsey Street, Brooklyn, New York
• 459 South Transit Street, Lockport, New York
• 3249 Sheridan Drive, Amherst, New York
• 218-35 Hempstead Avenue, Queens Village, New York
• 1825 Brentwood Road, Brentwood, New York
• 95-14 63rd Drive, Rego Park, New York
• 2271 Richmond Avenue, Staten Island, New York
• 592 East 183rd Street, Bronx, New York

Ohio

• 2840 Youngstown Road SE, Warren, Ohio
• 501 East Emmitt Avenue, Waverly, Ohio

Pennsylvania

• 6744-46 North Fifth Street, Philadelphia, Pennsylvania
• 118 Eagleview Boulevard, Exton, Pennsylvania
• 6731 Woodland Avenue, Philadelphia, Pennsylvania
• 2131-59 North Broad Street, Philadelphia, Pennsylvania
• 124 South Front Street, Steelton, Pennsylvania
• 510 East Baltimore Pike, Media, Pennsylvania
• 4551 Milford Road, East Stroudsburg, Pennsylvania
• 1536 North Atherton Street, State College, Pennsylvania
• 3807 Lincoln Highway, Downingtown, Pennsylvania
• 1200 West Market Street, York, Pennsylvania
• 6201 Germantown Avenue, Philadelphia, Pennsylvania
• 120 South Mill Road, Kennett Square, Pennsylvania

Virginia

• 1808 Salem Road, Virginia Beach, Virginia