Rite Aid declares bankruptcy, again
KAYLEE LINDENMUTH / SHENANDOAH SENTINEL - Rite Aid in Shenandoah on Sept. 16, 2020.
SHENANDOAH – A pharmacy chain with multiple locations in the Sentinel-area, and the only chain in the core of our region, is bankrupt. Again.
Rite Aid Corporation declared a second Chapter 11 bankruptcy proceeding Monday.
The ailing pharmacy chain had declared bankruptcy in 2023 and emerged from bankruptcy in September.
“For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers,” Matt Schroeder, Chief Executive Officer of Rite Aid, said. “While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.”
The Sentinel-area was spared in the wave of store closures brought on by the previous bankruptcy — the only closures nearby were two in Pottsville.
Rite Aid plans to keep stores open through this bankruptcy process and the company is exploring a sale.
The chain has locations in downtown Shenandoah, Mahanoy City, Ashland, and Frackville, as well as in the Hazleton area. The only other pharmacies in the Sentinel-area are Morris Drug, Mahanoy City; Redner’s, Shenandoah; and CVS Pharmacy, Mount Carmel.
About Author
