May 19, 2025- Rite Aid Corporation announced that it has successfully entered into a series of sale agreements and pharmacy services transition agreements, according to a press release. This includes the rolling transition of pharmacy assets from more than 1,000 store locations across the U.S. to operators including CVS Pharmacy, Walgreens, Albertsons, Kroger, and Giant Eagle, among others, as well as the sale and operation by CVS Pharmacy of many Rite Aid and Bartell Drugs stores located in Washington, Oregon, and Idaho.
The sale transactions are subject to approval by the U.S. Bankruptcy Court for the District of New Jersey (the “Court”). The Court is currently scheduled to conduct a hearing to approve the sales on May 21, 2025. Upon approval from the Court, the sales will remain subject to certain regulatory notices and approvals, and other customary closing conditions.
During the transition, Rite Aid stores will remain open, and customers can continue to access their pharmacy services, including prescription refills and immunizations, without interruption.