What Does Rite Aid's Bankruptcy Mean For New Jersey Residents?

This popular pharmacy claimed bankruptcy not that long ago. So, what does this mean for New Jersey residents that use this pharmacy for their prescriptions.

Recently, Rite Aid claimed bankruptcy and now their doing it again. Their filing again, after seven months after the pharmacy exited their first Chapter 11 and became a private company, according to cnn.com.

What does this mean for New Jersey residents that need prescriptions?

Rite Aid announced they would keep its stores open throughout the bankruptcy.

According to CNN, the CEO of Rite Aid Matt Schroeder: “While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.”

There are currently 61 Rite Aid stores in New Jersey. In 2023, when Rite Aid first claimed bankruptcy there were 105 Rite Aid pharmacies in New Jersey.

Rite-Aid is the third largest stand-alone pharmacy in America.

When I go into my local Rite Aid, the shelves are empty and it looks like it's about to close.

More information to come and let's hope we don't see anymore Rite Aid stores in Ocean and Monmouth County close.

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