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Many of those soon-to-be-closed locations are presumably part of the 1,932 Rite Aid stores Walgreens bought in 2018 in a $5.2 billion consolation prize deal after failing to buy its smaller rival ...
And Rite Aid filed for bankruptcy last year and will close up to 500 stores. Shifting trends Drug store chains are struggling because of falling reimbursement rates for prescription drugs ...
CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores by 2024. Walgreens said in 2019 it would close 200 stores and in June announced ...
Meanwhile, the pharmacy industry as whole is shrinking its store base, with CVS having closed stores in recent years and Rite Aid set to close up to 500 locations after filing for Chapter 11 ...
Rite Aid was reported by multiple news outlets to be considering Chapter 11 bankruptcy in September 2023; the pharmacy chain was said to have been petitioning for closures of up to 400 or 500 stores. [241] [242] [243] On October 15, 2023, Rite Aid officially filed for Chapter 11 bankruptcy, announcing plans to close nearly 100 stores. [244]
Rite Aid (RAD) has transferred 1,651 stores and related assets to Walgreens Boots Alliance, thus nearing the completion of the commitment.
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