Post-bankruptcy, though, “customer purchases of these products from brick-and-mortar convenience stores waned significantly, as Rite Aid was viewed as a higher-cost provider of these items.” ...

Read more: Rite Aid Files for Bankruptcy. Rite Aid lawyer Josh Sussberg said the retailer has now agreed to pay McKesson within seven days of receiving new products, versus 19 days previously. Terms ...

The pharmacy chain says McKesson claims to have canceled its drug-supply contract, a move Rite Aid calls a negotiating ploy that uses the well-being of its pharmacy customers as a bargaining chip.

Even after the 2023 bankruptcy, Rite Aid struggled with “inventory challenges” and “strained vendor relations,” as Fast Company previously reported. Subscribe to the Daily newsletter.

The Woonsocket, Rhode Island-based company purchased prescription files from 625 Rite Aid stores in 15 states and fully acquired 64 brick-and-mortar Rite Aid locations in Idaho, Oregon and Washington.

Rite Aid, the struggling drugstore chain with 1,245 stores in 15 states, is planning to close all of its 178 stores in New York state, including 11 local stores.

Rite Aid’s bonds sell off after bankruptcy filing as stock is halted Rite Aid has some $4.1 billion in debt outstanding. Published: Oct. 16, 2023 at 11:03 a.m. ET. Share. Resize.