Is Your Neighborhood Rite Aid Store Closing?

Rite Aid, the national drugstore chain that announced last year it is closing more than 100 stores as part of its Chapter 11 bankruptcy filing, is gearing up to shutter even more in 2024. The drugstore chain, which has fallen on tough times thanks to competition from Amazon, Walmart and Target and lawsuits tied to the opioid crisis, said in a court filing that it will close or sell an additional 18 stores in nine states in its second round. In the first tranche, over 100 stores in 12 states were shuttered. Since announcing its bankruptcy, Rite Aid has identified a total of 172 stores it is closing or selling in 15 states.

The owned and leased stores range from 6,400 to 37,154 square feet. Some are in downtowns, strip centers and main centers, while others are freestanding — including some with drive-thru windows. A&G Real Estate Partners said Rite Aid will continue to assess its store footprint and could shed additional locations to further improve its financial performance. Rite Aid has more than 2,100 retail pharmacy locations across 17 states.

What it means to you

Rite Aid said it will work with customers to transfer prescriptions to avoid any disruptions, but if your store is on the list, you may want to request your prescription be transferred now to a nearby pharmacy in person or via phone. The sooner you act, the fewer disruptions you’ll face down the road.  

“I would not panic, because I am sure they will arrange for the automatic transfer of prescriptions to another nearby pharmacy or perhaps even another pharmacy that takes over the same location,” says Edgar Dworsky, founder and editor of Consumer World. “You can always transfer away from that new pharmacy if it isn’t to your liking.”

For budget-conscious shoppers, Andrea Woroch, a shopping expert, says to view the Rite Aid closings as a way to get your prescriptions cheaper, particularly if you live near a warehouse club store like Sam’s Club or Costco. They tend to have cheaper drug prices than stand-alone pharmacies.  

“Even nonmembers can have prescriptions filled at these locations, which have consistently proven cheaper than stand-alone pharmacies, so give it a try,” says Woroch. There should also be closeout sales in the stores shuttering, so be on the lookout for opportunities to stock up and save.