Rite Aid bankruptcy means pharmacies will keep dwindling
Yes, it appears that Rite Aid’s recent bankruptcy will likely lead to further decline in the number of pharmacies available across the country. As part of the bankruptcy restructuring, Rite Aid plans to close nearly 600 stores, cutting up to 4,000 jobs. This will cause an even bigger dent in the overcrowded pharmacy market, and put an additional burden on the already struggling independent operator community. Furthermore, the chain has sold or divested hundreds of stores in recent years, pointing to the closure of even more locations in the future. With Rite Aid and other large pharmacy chains consolidating, it is likely that the number of pharmacies will continue to dwindle.