Rite Aid has also announced the closure of more of its stores.
The company announced on Monday that it would close 11 more stores as part of bankruptcy filings. Ten of the 11 stores are in Ohio and Michigan. One location will be closed in California.
Since the beginning of June, Rite Aid has announced that it will close 287 stores. All but four of the stores are located in Ohio and Michigan.
Rite Aid, which was based for decades in East Pennsboro Township near Camp Hill and is now based in Philadelphia, filed for Chapter 11 bankruptcy in October to begin restructuring and significantly reduce its debt.
Since October, the company has announced the closure of 780 stores in bankruptcy filings.
According to CNBC, U.S. Bankruptcy Judge Michael Kaplan approved Rite Aid’s bankruptcy plan at a June court hearing in Trenton, New Jersey, allowing the pharmacy chain to reduce its debt by $2 billion and hand over control of the company to a group of its lenders.
According to Reuters, Rite Aid is planning to emerge from bankruptcy soon with $2.55 billion in financing provided by its lenders.
Rite Aid had more than 2,100 stores when it filed for bankruptcy in October.
Rite Aid announced the following closures on Monday:
Michigan
- 2255 S Jackson Road, Jackson
- 22521 Michigan Ave., Dearborn
- 2857 S. County Road 489, Lewiston
- 800 W. Ann Arbor Road, Plymouth
- 100 E. Vienna Road, Clio
- 309 N. Main St., Frankenmuth
Ohio
- 651 Lincoln St., Cadiz
- 304 Harding Way West, Galion
- 1921 S. Defiance Road, Archbold
- 8619 Waynesburg Drive, SE, Waynesburg
California
- 3550 S. La Brea Ave., Los Angeles
