Drugstore chain Rite Aid is filing for bankruptcy again, eight months after emerging from a previous Chapter 11 filing in September 2024.

All Rite Aid stores will close or be sold to a new owner in the coming weeks and months as the struggling retailer goes through its second Chapter 11 bankruptcy filing. Why it matters: The Philadelphia-based drugstore chain is looking to sell both its pharmacy business and its stores,

Rite Aid is closing hundreds of stores across the United States as part of its ongoing bankruptcy restructuring. The company, which filed for Chapter 11 bankruptcy protection in October 2023, said the closures will help it focus on its best-performing locations while addressing financial challenges.