It’s official: all Rite Aid stores have closed.
The pharmacy retailer made the announcement on its website Thursday, thanking customers for their loyalty. The only remaining options on the Rite Aid website are to request records or find another pharmacy.
Rite Aid filed for its second bankruptcy in two years in May. This followed a prior restructuring effort that had reduced the Camp Hill, Pennsylvania-based retailer’s debt but did not resolve its underlying business challenges.
At one point, the company ranked among the largest pharmacy retailers in the U.S. with more than 5,000 locations in 2008, but it struggled due to significant debt, inflation, increased competition and legal settlements.
Rite Aid has spent much of the year selling off its stores. CVS acquired 64 locations shortly after the second bankruptcy was announced. Local grocers have also taken over vacant Rite Aid properties.
Giant Eagle has stepped in to fill the pharmaceutical gap in Pennsylvania and Ohio. The grocer acquired prescriptions from 78 Rite Aid stores in the two states and converted two former Rite Aid locations—in Hollidaysburg, Pennsylvania, and Cambridge, Ohio—into standalone Giant Eagle pharmacies. Giant Eagle, which plans to take over more former Rite Aid sites, also hired many of the retailer’s former pharmacists.
Other recent Giant Eagle developments include:
In August, Giant Eagle formed a partnership with Mark Cuban Cost Plus Drugs to offer access to lower-priced medications.
In April, the company announced a partnership with pharmacy benefits management company EmpiRx Health to create a national network of pharmacy chains and benefit plan sponsors called AllyRx. The network aims to offer services specifically designed for retail pharmacies, supermarkets, and grocery retailers.
This increased focus on pharmacy follows the company’s recent sale of its GetGo convenience-store chain. The sale has allowed Giant Eagle to concentrate on investing in its core supermarket business, including pharmacy.
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