{"id":241721,"date":"2025-07-06T03:39:23","date_gmt":"2025-07-06T03:39:23","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/241721\/"},"modified":"2025-07-06T03:39:23","modified_gmt":"2025-07-06T03:39:23","slug":"rite-aid-hits-bleak-milestone-as-americas-pharmacy-desert-grows","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/241721\/","title":{"rendered":"Rite Aid hits bleak milestone as America’s pharmacy desert grows"},"content":{"rendered":"

By ALICE WRIGHT FOR DAILYMAIL.COM<\/a> <\/p>\n

Published: 02:58 EDT, 3 July 2025 | Updated: 05:13 EDT, 3 July 2025 <\/p>\n

Rite Aid has closed 1,000 stores after filing for bankruptcy for the second time in two years.\u00a0<\/p>\n

The grim milestone was revealed in court papers as part of the pharmacy giant’s Chapter 11 bankruptcy filing in May.\u00a0\u00a0<\/a><\/p>\n

The pharmacy giant is undergoing a complete winding down of its 1,200 physical stores.<\/p>\n

Rite Aid has suffered years of financial trials, and has been unable to adapt to a tougher retail environment since the global Covid-19 pandemic.\u00a0<\/p>\n

The saga resulted in the company filing for bankruptcy for a second time in May, with CEO\u00a0Matt Schroeder blaming\u00a0‘financial challenges’ exacerbated by ‘rapidly evolving retail and healthcare landscapes.’<\/p>\n

Since then stores are being notified of their closure dates in brutal communication rounds.<\/p>\n

The latest update on June 27 announced the closure of 123 locations across eight states including\u00a0California, Pennsylvania and New York.\u00a0<\/p>\n

That brought the total closures in June up to 600, and brought the overall figure to 1,070, Newsweek <\/a>reported.\u00a0\u00a0\u00a0<\/p>\n

\"Rite <\/p>\n

Rite Aid filed for bankruptcy twice in just two years\u00a0<\/p>\n

The rest of Rite Aid’s locations will close or be sold-off within the year, leaving thousands of Americans in so-called ‘pharmacy deserts’ \u2014 communities that do not have sufficient access to drugstores.<\/p>\n

More than 48 million Americans now lack access to a nearby drugstore, research from healthcare company GoodRx found.<\/a>\u00a0<\/p>\n

The figure has increased markedly from 41.2 million in 2021, according to the research.\u00a0<\/p>\n

Rite Aid rivals CVS and Walgreens have also suffered financial pressures in recent years and have been forced to shutter stores.\u00a0<\/p>\n

CVS has gone through a series of strategic store closures, including 270 closures this year<\/a>.\u00a0<\/p>\n

Walgreens is also reportedly considering a $10 billion deal<\/a>\u00a0to sell itself to private equity firm Sycamore Partners.\u00a0\u00a0<\/p>\n

Online competitors\u00a0\u2014 like upstarts Capsule, Blink Health, and even Amazon<\/a>\u00a0\u2014 have been eating at the brick-and-mortar giants because of their delivery methods and convenience.\u00a0<\/p>\n

For years, Rite Aid racked up billions of dollars of debt, forcing executives to declare its first bankruptcy\u00a0in September 2023.<\/p>\n

\"Rite <\/p>\n

Rite Aid’s CEO, Matt Schroeder said filing for bankruptcy was a financial necessity\u00a0<\/p>\n

\"A <\/p>\n

A woman browses through near empty shelves\u00a0at a Rite Aid store in Alhambra, California, in 2023<\/p>\n

\"Rite <\/p>\n

Rite Aid has now closed more than 1,000 stores\u00a0<\/p>\n

On top of Rite Aid’s financial woes, it faced a series of lawsuits<\/a> after being accused of overprescribing opioids.\u00a0<\/p>\n

After eliminating $2 billion in debt in its first restructuring in 2023, the company failed to regain financial stability during its latest round of business.\u00a0<\/p>\n

Last month Rite Aid was also given court approval to sell off its Thrifty Ice Cream<\/a>\u00a0brand for $19.2 million.\u00a0\u00a0<\/p>\n

Founded in 1940, the brand launched as a drug store in downtown Los Angeles that allowed customers to sample ice cream.<\/p>\n

The ice cream gained a cult status by the 1970s and garnered ‘significant celebrity shoutouts.’<\/p>\n

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