Rite Aid bankruptcy: What it means for customers

• Rite Aid has filed for Chapter 11 bankruptcy to facilitate the sale of most of its assets.

• Pharmacy services—including prescriptions and immunizations—will continue during the bankruptcy proceedings.

• The company is working to transfer customer prescriptions and retain employees throughout the transition.

Rite Aid Corporation, one of the country’s longstanding pharmacy chains, has filed for Chapter 11 bankruptcy protection for the second time in two years as it pursues a strategic sale of nearly all of its assets. The company, which has operated for over 60 years, says the move is part of a broader effort to maximize value amid ongoing financial difficulties and a rapidly changing retail healthcare environment.

Despite the legal and financial upheaval, Rite Aid is assuring customers that pharmacy operations will continue uninterrupted, both in stores and online. This includes access to prescription medications, immunizations, and other healthcare products. However, stores that aren't sold will likely close.

The company also confirmed it is working closely with potential buyers to ensure a smooth transfer of customer prescriptions, in the event certain locations are sold or closed.

What this means for consumers

While the bankruptcy filing may raise concerns, Rite Aid is emphasizing continuity for its customers:

• Pharmacy Access Remains Open: All Rite Aid locations will continue to serve customers as usual for now. Prescription services and scheduled immunizations will not be affected during the Chapter 11 process.

• Prescription Transfers on the Horizon: As the company works through asset sales, some prescriptions may be transferred to other pharmacy chains. Customers should stay alert for communications regarding changes in their local pharmacy provider.

• Support for Employees and Service Quality: Employees involved in pharmacy operations will continue to receive pay and benefits, which should help maintain consistent service quality for consumers.

Matt Schroeder, Rite Aid’s CEO, underscored the company’s commitment to customer service throughout this transition. “Our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible,” Schroeder said in a statement. He also highlighted the interest from multiple potential buyers as a sign of confidence in the company’s future potential.

Rite Aid said it has secured nearly $2 billion in financing from existing lenders to support operations during the court-supervised sale. This, combined with its ongoing business income, should keep the company operational in the short term. However, customers should expect possible changes in store locations, branding, or service models depending on how the sales process unfolds.

Customers seeking updates or more information about the proceedings can visit Rite Aid's restructuring website, or contact the claims agent Kroll at (888) 575-9318. Landlords with inquiries about leases or property matters can visit A&G Realty Partners.