Photo Credit: Getty Images
From its peak as one of the largest pharmacy chains in the US with 5,000 stores, Rite Aid's fortunes have dramatically reversed. Founded in 1962, the company has faced financial struggles and a Justice Department investigation in recent years. Following bankruptcy filings in October 2023 and May 2025, data on Friday showed that fewer than 100 stores remain.
The company's website was replaced on Saturday with a message announcing the closure: "All Rite Aid stores have now closed. We thank our loyal customers for their many years of support." The site included a link to allow customers to request their pharmacy records. The company also faced legal troubles over its role in the opioid epidemic. In 2022, Rite Aid paid up to $30 million to settle lawsuits alleging it contributed to the flow of opioids in the US.
The following year, in the 2023 bankruptcy filing, the company said restructuring would help it "resolve litigation claims".
Rite Aid also faced a Justice Department complaint in which officials alleged the company's stores filled unlawful prescriptions for oxycodone and fentanyl. The company agreed to settle in July 2024.
Experts have raised concerns about growing "pharmacy deserts" in the US, where millions of people live without a pharmacy nearby and must travel to get prescriptions filled.
Other US pharmacy chains have also been closing retail locations across the country, though different reasons have been cited. Since 2021, CVS has closed more than 1,000 stores as part of a longer term strategic move. Separately, Walgreens, which was recently purchased by private equity firm Sycamore Partners, closed 500 stores over the past year.
