Rite Aid is closing more than 150 stores as part of its bankruptcy process
. The retailer has filed a motion with the court to close 194 stores in 15 states, including California, Florida, Massachusetts, Michigan, North Carolina, and South Carolina. The majority of these stores are scheduled to close by the end of August. Remaining stores will continue to operate as usual. The company plans to invest the cash generated from the store closures in other areas of the business.