An ailing giant in the retail pharmacy world has filed for bankruptcy for the second time in less than three years, and this time may be the death knell — it plans to close or sell its remaining stores.
Philadelphia-based Rite Aid initiated the proceedings in a New Jersey bankruptcy court on Monday.
The chain “is pursuing a strategic and value-maximizing sale process for substantially all of its assets,” according to a press release.
That will include closing and selling off its remaining stores and warehouses, according to court documents obtained by The Philadelphia Inquirer...
...moreThe chain “is pursuing a strategic and value-maximizing sale process for substantially all of its assets,” according to a press release.
That will include closing and selling off its remaining stores and warehouses, according to court documents obtained by The Philadelphia Inquirer...
Heather: Rite Aid has filed for Chapter 11 bankruptcy for the second time in less than three years. It goes to show you, companies of any size have their challenges. Despite big changes, they weren’t able to course correct. Momentum was not in their favor. It reminds me of restaurants. One can operate in a location for 20+ years. They retire, a new concept and operator backfill the space and yet they’re not successful. Proper leadership is crucial.
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- - Volume: 25 - WEEK: 20 Date: 5/13/2025 3:30:34 PM -