Rite Aid To Close These 31 CA Stores Due To Bankruptcy: See Full List

CALIFORNIA — More than 150 Rite Aid stores are expected to close, including over 30 in California, after the pharmacy chain filed for Chapter 11 bankruptcy protection.

Rite Aid announced in court documents this week which of its underperforming stores would be closed under the terms outlined in its Chapter 11 bankruptcy filing. The company will close 154 stores across the country, including 31 in the Golden State.

These are the California locations that will be closed, according to court documents:

• Store #05448: 4044 Eagle Rock Boulevard, Los Angeles
• Store #05457: 4046 South Centinela Avenue, Los Angeles
• Store #05466: 7859 Firestone Boulevard, Downey
• Store #05521: 4402 Atlantic Avenue, Long Beach
• Store #05571: 935 North Hollywood Way, Burbank
• Store #05585: 139 North Grand Avenue, Covina
• Store #05593: 13905 Amar Road, La Puente
• Store #05611: 920 East Valley Boulevard, Alhambra
• Store #05635: 3813 Plaza Drive, Oceanside
• Store #05638: 1670 Main Street, Ramona
• Store #05657: 6505 Mission Gorge Road, San Diego
• Store #05661: 8985 Mira Mesa Boulevard, San Diego
• Store #05730: 25906 Newport Road, Menifee
• Store #05735: 24829 Del Prado, Dana Point
• Store #05753: 30222 Crown Valley Parkway, Laguna Niguel
• Store #05757: 19701 Yorba Linda Boulevard, Yorba Linda
• Store #05760: 1406 West Edinger Avenue, Santa Ana
• Store #05772: 2738 East Thompson Boulevard, Ventura
• Store #05780: 720 North Ventura Road, Oxnard
• Store #05967: 20572 Homestead Road, Cupertino
• Store #05976: 2620 El Camino Real, Santa Clara
• Store #05979: 901 Soquel Avenue, Santa Cruz
• Store #06001: 571 Bellevue Road, Atwater
• Store #06045: 5409 Sunrise Boulevard, Citrus Heights
• Store #06080: 1309 Fulton Avenue, Sacramento
• Store #06213: 3029 Harbor Boulevard, Costa Mesa
• Store #06288: 959 Crenshaw Boulevard, Los Angeles
• Store #06318: 3000 South Archibald Avenue, Ontario
• Store #06333: 15800 Imperial Highway, La Mirada
• Store #06717: 8509 Irvine Center Drive, Irvine
• Store #06769: 499 Alvarado Street, Monterey

The company did not state when the stores would close.

Prescriptions of customers of the affected stores will be transferred to a nearby Rite Aid or other drug store "so that there is no disruption of service," the company said in a statement. People who work at the stores will also be transferred to other Rite Aid locations where possible, the company said.

Rite Aid's bankruptcy comes amid slumping sales and heavy debt from an opioid lawsuit filed by the Justice Department in March that accuses the company of filling prescriptions for large quantities of opioids "that had obvious, and often multiple, red flags indicating misuse."

Other drug store chains, including rivals CVS and Walgreens, have settled similar lawsuits, but were better positioned financially. But even they are struggling and closing in a tough environment for national drug store chains as Amazon and big-box retailers like Walmart, Target, Costco and others make it more convenient to have prescriptions filled, CNN reported.

Rite Aid said it had secured $3.45 billion in financing and debt reduction agreements that will help it stay afloat through the court-supervised bankruptcy. The company will sell off its Elixir Solutions, its prescription benefit provider.

Additionally, the agreement settles outstanding lawsuits against the company for allegedly filing unlawful opioid prescriptions, one of the exacerbating factors contributing to Rite Aid's bankruptcy.

In a notice to the Securities and Exchange Commission Thursday, Rite Aid said it was "unable, without unreasonable effort or expense," to file its latest quarterly report as it reviewed "strategic alternatives."

Losses that quarter are expected to be significantly higher than in the previous quarter, the company said. That's on top of losses of about three quarters of a billion dollars for the year ended March 2023, and losses of $307 million from March to May, CNN reported.

Rite Aid appointed a new CEO, Jeff Stein, who will lead restructuring efforts and also serve on the company's board of directors.

"With the support of our lenders, we look forward to strengthening our financial foundation, advancing our transformation initiatives and accelerating the execution of our turnaround strategy," Stein said in the statement. "In doing so, we will be even better able to deliver the healthcare products and services our customers and their families rely on — now and into the future.