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In a recent turn of events, pharmacy chain Rite Aid has filed for bankruptcy once more and announced plans to either sell or close all of its stores across the United States. This decision could significantly impact San Luis Obispo County, where the chain operates ten locations.

Rite Aid initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey on May 5. In a company news release, CEO Matt Schroeder acknowledged the difficulties faced by the company. “For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers. Though we have continued to face financial challenges, exacerbated by the swiftly changing retail and healthcare environments, we are hopeful about the meaningful interest from potential acquirers,” Schroeder said. He emphasized the company’s commitment to ensuring uninterrupted pharmacy services and preserving jobs.

While the majority of Rite Aid’s stores are expected to remain operational for the next few months, customers may start to notice some changes. According to a letter shared with customers, pharmacy services, including prescriptions and immunizations, will continue both in-store and online throughout the process. The company is also working on a seamless transition of customer prescriptions to other pharmacies.

To maintain operations during the bankruptcy, Rite Aid has secured approximately $1.94 billion in new financing from lenders. This, along with cash from ongoing operations, is anticipated to provide sufficient funding throughout the sale and court-supervised process. However, similar to the company’s previous bankruptcy in 2024, shelves may start to look emptier as Rite Aid halts new inventory purchases during the proceedings.

San Luis Obispo County features ten Rite Aid locations from Arroyo Grande to Paso Robles. According to court documents, the company plans to close 115 stores nationwide immediately. Fortunately, none of the stores in San Luis Obispo County are listed for the first round of closures, indicating a possibility of those locations being sold before considering permanent closure.

As Rite Aid navigates through these challenging times, customers in and around San Luis Obispo County are advised to stay informed about the status of their local stores and the latest updates from the company.