Rite Aid plans to plans to close about 7% of its stores initially, as the drugstore chain makes its way through its Chapter 11 bankruptcy process.
The company submitted a list of 154 stores in a court filing. Most of the chain’s stores are on the East and West Coasts, and the list reflects that.
Nearly 40 locations in Pennsylvania are on the list, including the Titusville Rite Aid on East Central Avenue.
Several locations in New York, New Jersey, California and Washington also made the list, and the company also plans to close some stores in Michigan and Ohio.
That filing also noted that the company lost about $1.3 billion in the first half of its fiscal year. That’s more than double the $441 million it lost in the same period during the previous fiscal year.
Rite Aid said in its Tuesday bankruptcy court filing that it also may close additional stores.
The company said earlier this week that going through its voluntary Chapter 11 process will help significantly cut the company’s debt and resolve litigation “in an equitable manner.”
The Philadelphia company has struggled financially for years and also faces financial risk from lawsuits over opioid prescriptions like its bigger rivals, CVS and Walgreens.
