Rite Aid is undergoing bankruptcy and plans to close or sell 1,245 stores across 15 states, particularly impacting New York, Pennsylvania, and California. Customers can still fill prescriptions and shop in-store or online for a few more months, but the company will cease issuing rewards points and will no longer accept gift cards or returns. Prescription files are expected to be sold to other retailers, but there's no guarantee they will remain convenient for customers. Analysts predict stores will become increasingly bare as new inventory is not being purchased.
The company plans to sell customer prescription files, inventory and other assets as it closes distribution centers and unloads store locations.
I think what we'll progressively see is the stores will become more and more spartan," said retail analyst Neil Saunders.
Rite Aid will try to sell them to another drugstore, grocer or retailer with a pharmacy, attempting to ensure a smooth transfer of customer prescriptions.
All locations will eventually close or be sold to a new owner, affecting 1,245 stores across 15 states.
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