Rite Aid Stores In ID, WA, and UT Files for Bankruptcy Again!

The world of trade, tariffs, and a possible recession has taken its toll on another iconic national retail brand with stores in Idaho, Utah, and Washington. Unlike other chains, folks have enjoyed a credible shopping experience. Whether it's picking up their prescription or candy bar, folks love Rite Aid.

The company announced in a press release this week that it will enter into Chapter Eleven proceedings. This is the second time the company has gone through the process in two years.

Rite Aid is one of the most popular drugstore chains in the country. It offers shoppers access to prescriptions, photo development, food, and other items. The chain and other pharmacy chains were so successful that stores like Walmart, Albertsons, Target, and others began carrying similar services.

"Matt Schroeder, Chief Executive Officer of Rite Aid, said, "For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers. While we have continued to face financial challenges, intensified by the rapidly evolving retail and healthcare landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors. As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible."

The company will work with creditors to pay off its debts. We don't know the company's future at this time, but we will continue to update you on this story as it develops.