Rite Aid, CVS
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Rite Aid has sold the pharmacy services of most of its stores across the United States to several rivals. The bankrupt company announced the fire sale Thursday, with CVS Pharmacy, Walgreens, Albertsons and Kroger scooping up Rite Aid’s pharmacy services at more than 1,000 locations.
Dozens of Rite Aid stores will close. The drugstore chain announced in its bankruptcy filings on May 9 and May 16 that it plans to close more than 150 stores.
Some Rite Aid landlords are seeking more transparency as the bankrupt drugstore chain sells off its pharmacy and retail assets.
CVS has agreed to buy the bulk of Rite Aid's pharmacy assets. If approved, CVS would acquire the prescription files for 625 stores, including some in Pennsylvania, New Jersey, and Delaware.