54. Rite Aid Store Closures

How Many Stores Closing: 55

Current Value of the Business: $4.52 million market cap*

Rite Aid, grappling with financial woes and following a bankruptcy filing in October, plans to shutter another 55 stores by January 2024. This move is part of an ongoing series of closures initiated across the US in late 2023.

This recent closure wave will affect stores in 14 states, with the bulk occurring in California, New York, Ohio, and Pennsylvania. Through these actions, Rite Aid hopes to fortify its financial standing amid changing industry dynamics and shifts in consumer behavior.