Rite Aid To Close Sacramento Store Due To Bankruptcy

SACRAMENTO, CA — Rite Aid will close an additional 30 locations — including one in Sacramento— after it filed for Chapter 11 bankruptcy protection earlier this year.

The pharmacy chain's bankruptcy comes amid slumping sales and heavy debt from a lawsuit filed in March by the federal government over the company's role in the opioid crisis. Additionally, Rite Aid's leaders expect a net loss of as much as $680 million in the current fiscal year, the latest in several years of annual losses.

After filing for bankruptcy protection in October, the chain announced it would close more than 154 of its stores. It recently announced 30 more would close, including these in California:

• 5747 Kanan Road, Agoura Hills
• 1475 41st Ave., Capitola
• 1350 N. Vasco Road, Livermore
• 49060 Road 426, Oakhurst
• 4980 Freeport Blvd., Sacramento
• 1020 Al Tahoe Blvd., South Lake Tahoe
• 11230 Donner Pass Road, Truckee

Prescriptions of customers of the affected stores will be transferred to a nearby Rite Aid or other drug store "so that there is no disruption of service," the company said in a statement. People who work at the stores will also be transferred to other Rite Aid locations where possible, the company said.

Rite Aid appointed a new CEO, Jeff Stein, who will lead restructuring efforts and also serve on the company's board of directors.

"With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives and accelerating the execution of our turnaround strategy," Stein said in the statement. "In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on — now and into the future.