Credit: Google Maps.
Rite Aid, the once-prominent U.S. pharmacy chain, is in the process of closing all of its remaining stores following a Chapter 11 bankruptcy filing on May 5.
The Rite Aid in Abington at 1321 Easton Road is one of those locations that will close up shop in the near future.
The Philadelphia-based chain has already closed hundreds of locations over the past year, and court filings now show plans for a complete closing of all stores.
This marks the company's second bankruptcy in under two years, following a previous filing in 2023. The closures are part of a strategic liquidation plan aimed at addressing significant financial challenges, including declining sales, legal liabilities related to opioid lawsuits, and increased competition from larger retailers like CVS, Walgreens, and Walmart.
So what does this mean for customers?
For people who use Rite Aid for their prescriptions, the store is working to transfer prescription files to other pharmacies, including CVS, to ensure continuity of care. However, customers are encouraged to contact their local pharmacy to confirm the status of their prescriptions.
Effective June 5, Rite Aid will cease accepting gift cards, processing returns, and discontinuing its rewards program. Customers should use any remaining gift cards before this date.
Many employees are expected to be laid off between June 4 and 18, according to documents. The company is providing severance packages and outplacement support where applicable.
