Rite Aid is closing all 178 of its remaining stores in New York following ongoing financial struggles and a recent bankruptcy filing. This marks the second bankruptcy in two years for the drugstore chain, driven by a $750 million loss in the last fiscal year. The company faces over 1,000 lawsuits tied to the opioid crisis and has been affected by increased theft incidents since the pandemic. Store closures are expected to be accompanied by layoffs starting June 4, with Rite Aid committed to helping customers transfer their prescriptions.
Rite Aid is closing all its New York locations after prolonged financial issues, having filed for bankruptcy twice in two years, with $750 million in losses reported.
In light of the wave of store closures, Rite Aid will assist customers with prescription transfers while preparing for the impending layoffs set to begin June 4.
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