Rite Aid plans to shutter 154 stores nationwide as part of its recent bankruptcy filing, including about 40 locations in its home state of Pennsylvania.
The pharmacy chain listed every location set for closure in bankruptcy court documents filed Tuesday, but didn’t disclose when each store would be shuttered. Rite Aid declared bankruptcy this week amid slumping sales and mounting opioid-related lawsuits.
The company said Tuesday it received $3.45 billion in new financing that will go toward keeping remaining stores open and keeping employees paid while its restructuring moves forward. The bankruptcy process will help Rite Aid emerge “as a stronger company, well-positioned for long-term success,” CEO Jeffrey Stein said.
About 30 stores slated for closure are located in California, according to the filing. Other Rite Aid locations that will be closed are in states including Maryland, Michigan, New York and Washington.
Rite Aid employs 45,000 people, of which more than 6,100 are pharmacists.
This is a developing story and will be updated.
Thanks for reading CBS NEWS.
Create your free account or log in
for more features.