Rite Aid To Close These 6 MD Stores

MARYLAND — Rite Aid pharmacy chain's court filings has named which of its underperforming stores would be closed under the terms outlined in its Chapter 11 bankruptcy filing.

Six of the stores set to close are in Maryland. The stores to be closed include:

• 5 Bel Air South Parkway, Suite 1347, Bel Air
• 5624 Baltimore National Pike, Baltimore
• 5804 Ritchie Highway, Baltimore
• 7501 Ritchie Highway, Glen Burnie
• 7967 Baltimore Annapolis Boulevard, Glen Burnie
• 728 East Pulaski Highway, Elkton

The company did not say when the stores would close.

The pharmacy chain has 38 stores in Maryland: Baltimore, Bel Air, Eldersburg, Elkton, Ellicott City, Glen Burnie, Havre De Grace, Ocean City, Owings Mills, Randallstown, Salisbury, Westminster and several other towns across the state.

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’s bankruptcy comes amid slumping sales and heavy debt from an opioid lawsuit filed by the Justice Department in March that accuses the company of filling prescriptions for large quantities of opioids “that had obvious, and often multiple, red flags indicating misuse.”

Related:

• Tuesday Morning Store Closings Could Affect 8 In Maryland
• Party City, With 20 MD Stores, Files For Bankruptcy
• Another Major Retailer Closing Store In Rockville

Other drug store chains, including rivals CVS and Walgreens, have settled similar lawsuits, but were better positioned financially. But even they are struggling and closing in a tough environment for national drug store chains as Amazon and big-box retailers like Walmart, Target, Costco and others make it more convenient to have prescriptions filled, CNN reported.

Rite Aid said it had secured $3.45 billion in financing and debt reduction agreements that will help it stay afloat through the court-supervised bankruptcy. The company will sell off its Elixir Solutions, its prescription benefit provider.

Additionally, the agreement settles outstanding lawsuits against the company for allegedly filing unlawful opioid prescriptions, one of the exacerbating factors contributing to Rite Aid’s bankruptcy.

Rite Aid last month 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.”