Bankrupt Rite Aid shutters all stores

After operating for more than 60 years, Rite Aid recently announced it has closed all its stores, marking the end of one of America’s largest pharmacy chains.

Rite Aid operated over 1,200 stores across 15 states.

The company, founded in 1962 in Pennsylvania, faced years of financial struggles and filed for bankruptcy twice, first in 2023 and again in May 2025—just months after emerging from the first.

It faced mounting debt, declining sales, and over 1,000 lawsuits related to opioid prescriptions.

The Justice Department had accused the chain of unlawfully filling prescriptions for “controlled substances,” which it settled for $7.5 million in 2024 without admitting wrongdoing.

Rite Aid secured $1.94 billion in financing to stay afloat during earlier bankruptcy proceedings; however, it ultimately could not recover.

Its final wind-down plan remains under court review as lawsuits continue to be addressed through the bankruptcy claims process.