Rite Aid, one of the largest pharmacy chains in the country, has permanently closed the last of its locations after struggling with bankruptcy for years.
“All Rite Aid stores have now closed,” the company said on its website. “We thank our loyal customers for their many years of support.”
The closure was expected. In May, Rite Aid filed for bankruptcy for the second time in less than two years, after poor performance in its retail business made it difficult for the company to maintain cash flow and restock inventory.
“Since emerging from our financial restructuring process in September, Rite Aid has continued to experience a number of financial challenges,” CEO Matt Schroeder said in a May 5 statement announcing the new Chapter 11 filing….