Rite Aid has officially closed all of its stores amid a bankruptcy filing, the company announced. File Photo by John Angelillo/UPI | License Photo
Oct. 5 (UPI) -- After filing its second bankruptcy in May, the chain of Rite Aid drugstores have officially closed.
The store, which officially opened in 1962, began the large-scale shuttering of locations across the nation amid its first bankruptcy filing, in October 2023.
The company had some $4 billion in debt at that time amid lawsuits related to the company's apparent handling of opioid medications.
In May, Matt Schroeder, Rite Aid's CEO, said their financial woes were related to "the rapidly evolving retail and healthcare landscapes," USA Today reports.
