Major Pharmacy Closing Over 200 More Stores, Now 12 in VA

VIRGINIA — The embattled one-time pharmacy chain giant Rite Aid announced it will close more than 200 additional stores, including another three in Virginia, after the chain filed for Chapter 11 bankruptcy a second time last month.

This latest round of closures brings the total number of locations shutting their doors to around 600 nationwide, according to court documents obtained by Nexstar, or approximately half of the 1,240 retail stores that will be listed for sale.

Rite Aid first filed for bankruptcy restructuring in 2023, after the Philadelphia-based company had been struggling with losses for years. The company filed a second time on May 4, less than two years after the previous restructuring lessened the pharmacy chain's debt but still left it on unsound financial footing.

The company listed liabilities in the range of $1 billion to $10 billion in a Chapter 11 petition filed in bankruptcy court.

The following Virginia locations are now slated for closure, according to court documents:

• 101 Gainsborough Square, Chesapeake
• 5500 George Washington Hwy., Grafton
• 3600 Tidewater Dr., Norfolk
• 6150 College Dr., Suffolk
• 1373 N Great Neck Rd., Virginia Beach
• 1177 South Rosemont Rd., Virginia Beach
• 5232 Fairfield Shopping Center, Virginia Beach
• 5795 Princess Anne Rd., Virginia Beach

Rite Aid previously announced it would close these Virginia stores:

• 115 Brunswick Square Court, Lawrenceville
• 144 Scottsville Center, Scottsville
• 4171 Lee Jackson Hwy. Ste 113, Greenville
• 200 Augusta Avenue, Grottoes

Rite Aid has 31 remaining stores in Virginia, including the four slated for closure, down from 64 in 2023. The chain closed several locations in recent years as part of its restructuring plan.

• Pharmacy Chain Closing VA Stores Amid Bankruptcy
• VA Pharmacy Chain Transferring Prescriptions Amid Bankruptcy: Where Yours Could Go
• What Customers Can Expect After VA Pharmacy Chain Files 2nd Bankruptcy

Last week, the company announced a "rolling transition" of its pharmacy assets from more than a thousand stores across the country, which will likely include its Virginia locations.

The assets will be transferred to CVS, Walgreens, Albertsons, Kroger and Giant Eagle, among others. CVS said it is acquiring the prescription files of 625 Rite Aid pharmacies in 15 states and purchasing 64 Rite Aid stores in Idaho, Oregon and Washington.

Before the bankruptcy declaration, Rite Aid had eight million pharmacy customers.

Rite-Aid operated about 2,000 pharmacies as recently as 2023 but now has only about 1,240 stores as it enters its second bankruptcy.

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