Pharmacy chain Rite Aid has begun Chapter 11 bankruptcy proceedings, the company announced on Monday, May 5.Rite Aid CEO Matt Schroeder pointed to financial challenges that “intensified by the rapidly evolving retail and healthcare landscapes” for the filing in U.S. Bankruptcy Court for the District of New Jersey.The Philadelphia-based company, which operates 1,240 stores across 15 states, said that customers will be able to access pharmacy services as the majority of stores will remain open over the next few months and that it is “working to facilitate a smooth transfer of customer prescriptions to other pharmacies.””As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible,” Schroeder said.
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Rite Aid Files for Bankruptcy
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Allyssa Mohr, HS Reporter
Hi! I’m Allyssa Mohr. I’m a sophomore here at Conrad Schools of Science and I’ve been going here for 2 years. I love playing softball. I have been playing for 4 years, my dream is to play D1 college softball at the University of Alabama. I love going outdoors. Fishing and hunting have been my favorite things to do outdoors ever since I was little. I spend most of my time at practice or with family and friends.