Pharmacy chain Rite Aid is shuttering an additional 31 stores in a dozen states, according to a recent bankruptcy court filing.
The company announced more than 150 other store closures last month when it filed for Chapter 11 bankruptcy protection. A Wednesday news release said it operates more than 2,300 retail pharmacy locations across 17 states.
Rite Aid spokesperson Catherine Carter said the stores that will be closing have been underperforming and will be closed “to further reduce rent expense and strengthen overall financial performance.” The company plans to give workers at closing stores the option to transfer to other locations.
Rite Aid, one of the largest pharmacy chains in the country, filed for bankruptcy in October as it faced slumping sales and more than a thousand federal, state and local lawsuits accusing it of fueling the opioid epidemic by illegally filling painkiller prescriptions.
The company’s stock had dipped more than 95% over the past year and closed up 2.4% Wednesday at $0.22.
The closures come as the U.S. pharmacy system as a whole struggles to operate efficiently with less staff. Pharmacists at some of the nation’s largest chains have started to protest deteriorating working conditions, with employees at Rite Aid, Walgreens and CVS staging walkouts in recent months.
Other pharmacy chains have also been shuttering stores. Walgreens in July said it planned to close 150 locations in the U.S. and another 300 in the United Kingdom, and CVS in 2021 announced plans to close 300 stores per year over the next three years.
Prescription for disaster:America's broken pharmacy system in revolt over burnout and errors
California:
Connecticut:
Maryland:
Michigan:
New Jersey:
New York:
Nevada:
Ohio:
Oregon:
Pennsylvania:
Virginia:
Washington:
Spokesperson Carter said the company has not confirmed any decisions on additional store closures at this time.
