Rite Aid has sold pharmacy assets from more than 1,000 of its stores to a range of companies that also operate in the pharmacy space, including CVS Pharmacy, Walgreens, Albertsons, Kroger and Giant Eagle. Additionally, the bankrupt company has sold a number of its Rite Aid and Bartell Drugs stores located in Washington, Oregon and Idaho to CVS. Details were not available on the exact distribution of the sold assets.
Rite Aid filed for its second bankruptcy in two years earlier this month and signaled its intent to sell as much of its business as possible.
During the transition period, as the sold assets are transferred to their new owners, Rite Aid stores will remain open and offer full pharmacy services to customers. The sales must still be approved by the U.S. Bankruptcy Court for the District of New Jersey; a hearing is scheduled to take place May 21, 2025.
“A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption,” said Matt Schroeder, CEO of Rite Aid in a statement. “These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.”
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