Rite Aid Closes Its Last Stores After 63 Years, Marking the End of an Era

Rite Aid, once a staple of American main streets and shopping centers, has officially closed all of its remaining stores after 63 years in business. The company, which filed for bankruptcy in May for the second time in less than two years, confirmed that all 89 of its final locations have now shuttered.

“All Rite Aid stores have now closed. We thank our loyal customers for their many years of support,” the company said in a statement on its website. The site remains active only for customers to access pharmaceutical records or find nearby pharmacies to transfer their prescriptions.

Founded in 1962, Rite Aid grew into one of the largest pharmacy chains in the country and became known for its beloved Thrifty ice cream brand, which has since been sold amid the company’s financial turmoil. The chain’s decline accelerated as it faced mounting debt—more than $4 billion—and expensive legal battles tied to its alleged role in filling unlawful opioid prescriptions.

After filing for bankruptcy in 2023, Rite Aid emerged briefly in 2024, having eliminated $2 billion in debt and closing roughly 500 stores. But by early 2025, ongoing financial struggles and increased competition from retail giants like CVS and Walgreens led to its second bankruptcy and complete closure.

Most of Rite Aid’s remaining pharmacy services were sold to CVS Pharmacy, Walgreens, Albertsons, and Kroger, who collectively took over more than 1,000 locations. Analysts say the move provides some relief for customers who may have otherwise lost access to local pharmacies—a growing concern as store closures spread nationwide.

The wider retail pharmacy sector continues to contract. CVS announced plans to close 900 stores by 2024, while Walgreens said last year that roughly a quarter of its stores are not profitable and confirmed plans to close 1,200 locations. Rite Aid’s final exit underscores the industry’s shift toward consolidation and online services, marking the end of a once-iconic American brand.

Credit: CNN Newsource

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