Rite Aid closes all 89 of its last stores in early October 2025, ending 63 years of operation as a standalone pharmacy chain. The pharmacy chain closes final stores locations following the company’s second Chapter 11 bankruptcy filing in May 2025, less than two years after its first restructuring. Former customers can now access prescription records and transfer information through the company’s website.[1][2]
Financial Struggles and Bankruptcy History
Rite Aid filed for Chapter 11 protection twice between October 2023 and May 2025. The first filing in October 2023 reduced the company’s debt by $2 billion, closed approximately 500 underperforming stores, and sold its pharmacy benefit manager Elixir.[3][4] The company emerged from that bankruptcy in September 2024 as a private entity, operating about 1,245 stores in 15 states.[5]
Second Bankruptcy Filing
In May 2025, Rite Aid filed for Chapter 11 protection again after failing to secure additional funding from lenders. The company reported liabilities between $1 billion and $10 billion and secured $1.94 billion in debtor-in-possession financing to maintain operations during asset liquidation.[6][7] CEO Matt Schroeder stated the company would seek buyers at national and regional levels while minimizing disruptions to pharmacy services.[8]
Read More: Rite Aid pharmacy chain closes its last remaining stores
Store Closure Timeline and Scale
The company operated 2,111 stores when it filed for bankruptcy in October 2023. More than 520 locations, representing about 25 percent of the chain’s footprint, closed between October 2023 and May 2025.[9] The final 89 stores shut down in the first week of October 2025, completing the nationwide exit.[10]
Rite Aid faced intense competition from larger chains including CVS Health and Walgreens, along with mounting debt exceeding $4 billion. The company also dealt with more than 1,000 federal, state, and local lawsuits related to opioid prescriptions.[11]
Legal Challenges and Company Origins
The United States Department of Justice filed a complaint against Rite Aid in March 2023 under the False Claims Act and Controlled Substances Act. The lawsuit alleged the company filled unlawful prescriptions for oxycodone, fentanyl, and benzodiazepines while ignoring internal red flags.[12] The company did not admit wrongdoing, and most claims were addressed through the first bankruptcy settlement in 2024.[13]
- Founded in 1962 in Scranton, Pennsylvania as Thrift D Discount Center[14]
- Expanded to more than 5,000 stores at peak in late 2000s[15]
- Operated in 15 states before final closure in October 2025[16]
- Employed thousands of workers across remaining locations before shutdown[17]
- Website continues operating to provide prescription transfer services and records[18]
Former Rite Aid customers can request pharmacy and immunization records through the company’s website, which also provides tools to locate new pharmacies that received transferred prescriptions. The closure marks the end of one of America’s once-largest pharmacy chains amid broader challenges facing the retail pharmacy industry.[19][20]
