Rite Aid has declared bankruptcy and plans to immediately close 115 stores across the country, including 21 stores in California.
Santa Barbara County’s six stores have been spared from the first round of closures, according to court documents filed as part of company’s bankruptcy.
The drug store company entered voluntary Chapter 11 proceedings in U.S. Bankruptcy Court District of New Jersey on May 5, according to a news release from the company.
Customers will still have access to pharmacy services and products in stores and online, including prescriptions and immunizations. The company is working to transfer prescriptions to other pharmacies from stores that will be closing, according to the news release.
Matt Schroeder, Chief Executive Officer of Rite Aid, said the company’s financial challenges were made worse by the evolving retail and and healthcare market.
“For more than 60 years, Rite Aid has been a proud provider of pharmacy services and products to our loyal customers,” Schroeder said. “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.”
The company’s main priorities during the bankruptcy closures are to continue pharmacy services and preserve as many jobs as possible, Schroeder said.
Similarly to when the company declared bankruptcy in 2024, the company will not be buying new inventory and customers will likely begin to notice empty shelves in stores.
Santa Barbara County’s six store locations, which will remain open for now, include:
- 1976 Cliff Dr. in Santa Barbara
- 35 S Milpas St. in Santa Barbara
- 199 N Fairview Ave. in Goleta
- 616 Alamo Pintado Road in Solvang
- 345 Town Center West in Santa Maria
- 2405 S Broadway in Santa Maria
The 21 stores closing in California include:
- 3860 Sepulveda Blvd. – Torrance
- 5075 Olivehurst Ave. – Olivehurst
- 211 East 17th St. – Costa Mesa
- 1038 East Colorado Blvd. – Pasadena
- 6150 Van Buren Blvd. – Riverside
- 220 West East Ave. – Chico
- 4774 West Ln. – Stockton
- 4920 La Sierra Ave. – Riverside
- 1331 Wilshire Blvd. – Santa Monica
- 446 East Washington Blvd. – Los Angeles
- 23 Peninsula Center – Rolling Hills Estates
- 3300 East Anaheim St. – Long Beach
- 1203 West Imola Ave. – Napa
- 1550 Hamilton Ave. – San Jose
- 501 South Gaffey St. – San Pedro
- 4840 Niagara Ave. – San Diego
- 1534 East Florence Ave. – Los Angeles
- 32450 Clinton Keith Road – Wildomar
- 720 Sutton Way – Grass Valley
- 34420 Yucaipa Blvd. – Yucaipa
- 2751 Del Paso Road – Sacramento
The stores could be sold to another company and if that’s not successful, they could close for good, according to Rite Aid.
