Rite Aid to close 31 more stores, including these in California

by: Addy Bink, Vanessa Blasi, Ken Houston

Posted: Nov 29, 2023 / 11:42 PM PST

Updated: Nov 30, 2023 / 06:37 AM PST

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Rite Aid is closing over 30 additional locations after closing more than 150 of its stores earlier this year following its Chapter 11 bankruptcy protection filings.

The Philadelphia company, which is marking its 60th year in business, has posted annual losses for several years and has been cutting costs and closing stores as it dealt with long-standing financial challenges. It has said it expects a net loss of as much as $680 million in the current fiscal year, which will end next spring.

The company, like its rivals, also faces financial risk from lawsuits over opioid prescriptions. Rite Aid already has reached several settlements, including one announced last year with the state of West Virginia for up to $30 million.

After filing for bankruptcy protection in mid-October, the chain announced the closures of more than 150 stores across 15 states. According to court documents filed Tuesday, Rite Aid will close another 31 stores.

Rite-Aid officials released the following statement regarding the abundance of closures.

“With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives and accelerating the execution of our turnaround strategy,” said Jeffrey Stein, CEO and CRO of Rite-Aid. “In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on now and in the future.”

Company officials said “underperforming” locations will close. In Southern California; that includes the location in Agoura.

Here are the newest round of store closures by state: