Rite Aid Announces Complete Closure of All Its Stores After Decades in Operation

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00:00Rite Aid announces complete closure of all its stores after decades in operation.

00:05Rite Aid, once a staple pharmacy chain, has closed all stores after decades,

00:10ending years of financial struggles, lawsuits, and debt.

00:16Rite Aid's decline was years in the making, Chapter 11 bankruptcy in 2023,

00:22closures in 2024, lawsuits over the opioid crisis,

00:26and a second bankruptcy in 2025 marked the end of the chain.

00:33In its final months, Rite Aid sold assets to CVS and Walgreens and closed over 500 stores,

00:40and by October 2025, fewer than 100 remained, all soon to shut for good.

00:49In October 2025, Rite Aid officially closed all stores,

00:54thanking customers for their loyalty.

00:57While some felt frustrated when they couldn't find their old vaccination history

01:01or medication data on the website,

01:03many felt nostalgia for the once-familiar chain.

01:10Rite Aid fell behind as rivals like CVS, Walgreens, and online pharmacies expanded,

01:15offering apps and clinics,

01:17while its outdated stores couldn't match convenience or scale.

01:20Rite Aid's massive debt and high costs, combined with shrinking sales,

01:25made each store closure worse in finances,

01:28leaving little left to cut despite $3.45 billion in financing.

01:33Rite Aid faced hundreds of costly opioid lawsuits, scaring investors and buyers.

01:38Unlike larger rivals, it couldn't absorb the impact,

01:41worsening its financial and legal struggles.

01:44Rite Aid's 2023 bankruptcy failed to revive the chain.

01:48Stores kept closing, customers didn't return,

01:51and suppliers lost confidence,

01:53leading to the inevitable 2025 second bankruptcy.