Rite Aid Corporation has announced plans to either close or sell all its stores following a bankruptcy filing. According to reports, funding from investors was insufficient, and the company faced challenges such as tariffs, rising supply costs, and increased rent expenses. In its court filing, Rite Aid secured nearly \$2 billion in financing from lenders to maintain operations, including employee wages and benefits. Customers will continue to receive pharmacy services as prescriptions are transferred to other pharmacies. This marks Rite Aid’s second bankruptcy filing in under three years. The company cited factors like business strategy, lease agreements, and store performance when deciding closures.
— new from MyNorthwest.com
