Are Rite Aid stores closing? What about your prescriptions? Details on bankruptcy filing

Rite Aid announced on Monday, May 5 that it started bankruptcy procedures in Chapter 11.

The company, which runs 1240 stores in 15 states, said that customers will be able to access pharmacy services and that it “is working to facilitate smooth transportation for customer recipes to other pharmacies.”

“As we move forward, our main priorities are to ensure pharmacy services without interruption for our customers and maintain jobs for the largest possible number of colleagues,” Schroeder said.

Matt Schroeder, CEO of Rite Aid, pointed to the financial challenges “intensifying the advanced landscape of retail and health care” to be submitted at the US Banking Court for New Jersey Province.

Here is what we know about whether Aid Rite sites will be closed and what will happen for medical prescriptions.

The company announced that it had acquired $ 1.94 billion of new financing to maintain operating stores during bankruptcy and potential sale procedures.

“During this process, Rite Aid customers can continue accessing pharmacy services and products in stores and online, including medical prescriptions and vaccinations,” the company said in a press statement.

The deposit represents the second time in less than two years, Rite Aid provided bankruptcy after a previous restructuring, which reduced the company’s debts.

Reuters reports Rite Aid reports about 2000 pharmacists in 2023 but now it has 1240 stores across the country, with the last closure affects the sites in Ohio and Michigan.

Usa Today contacted Rite Aid to get more information surrounding the closure of stores in the wake of the bankruptcy announcement.

Rite Aid said it is working to transfer customer recipes to other pharmacies.

Customers can use the Rite Aid located tool to find contact information for their local store.

The employees will continue to receive wages although Bloomberg News reported earlier on Monday that the company will reduce jobs after its failure to secure additional financing from its lending, noting an internal letter from the Schroeder.

Schroeder said that the company received “meaningful attention from a number of potential national and regional strategic products.”

Gabe Hauari is a national news correspondent in the United States of America today. You can follow it on x Gabehauari Or send an email to Gdhauari@gannett.com.

This article originally appeared on Usa Today: Are Rite Aid Closing stores? What will happen after submitting bankruptcy?