NEW JERSEY — Rite Aid will close 47 locations in the infancy of its second bankruptcy, including two stores in New Jersey.
After the pharmacy chain filed for Chapter 11 bankruptcy on Monday, it said all stores would remain open as it attempts to sell all of its assets. But court documents filed Tuesday indicated otherwise, as the company identified stores slated for closure.
Additionally, a flyer from A&G Real Estate Partners indicates that nearly all of Rite Aid’s 1,240 stores will be listed for sale. The flyer reportedly lists 1,187 retail leases and 50 fee-owned properties across 15 states.
The first New Jersey locations to close are:
- 75 South Main St., Neptune
- 403 Sicklerville Rd., Sicklerville
Rite Aid has 60 remaining stores in New Jersey, including the two slated for closure. The chain closed several locations last year as part of its restructuring plan.
Rite Aid said customers can continue to access pharmacy services and products in stores and online, including prescriptions and immunizations. In connection with the sale process and court-supervised proceedings, the company said it is working to facilitate a smooth transfer of customer prescriptions to other pharmacies. Rite Aid has eight million pharmacy customers.
However, Rite Aid Rewards points are no longer being issued, and existing points and bonus cash will also expire per the terms and conditions.
Rite Aid will also no longer honor gift cards or accept any returns or exchanges beginning June 5.
Rite-Aid is the nation’s third-largest pharmacy chain behind CVS and Walgreens. All three have suffered financial difficulties and shuttered hundreds of stores in recent years.
Rite-Aid operated about 2,000 pharmacies as recently as 2023 but now has only about 1,240 stores as it enters its second bankruptcy.
