Rite Aid to close over two dozen stores amid bankruptcy proceedings
Rite Aid operates over 1,700 stores
[video_shortcode_video_embed src="https://video.foxbusiness.com/v/video-embed.html?video_id=6311591723112&d=video.foxbusiness.com" itemprop="image" content="https://video.foxbusiness.com/v/video-embed.html?video_id=6311591723112&d=video.foxbusiness.com" data-src="https://video.foxbusiness.com/v/video-embed.html?video_id=6311591723112&d=video.foxbusiness.com"]
FOX Business Flash top headlines for June 19
Check out what's clicking on FoxBusiness.com
Rite Aid is looking to close over two dozen more stores in two states.
The drugstore chain on Monday filed a "notice of additional closing stores" with the U.S. Bankruptcy Court of the District of New Jersey, identifying a total of 27 locations in Michigan and Ohio that it has added to the chopping block.
Of those, 12 are in Michigan, according to the filing. The other 15 are located in Ohio.
A customer walks into a Rite Aid store in Los Angeles on Dec. 22, 2021. (Mario Tama/Getty Images / Getty Images)
FOX Business reached out to Rite Aid for comment regarding the additional planned closures but did not receive a response by the time of publication.
RITE AID TO CLOSE 53 MORE STORES AMID BANKRUPTCY PROCEEDINGS
The company, headquartered in Pennsylvania, has closed a slew of locations across the country while in Chapter 11 bankruptcy.
A person walks outside of Rite Aid pharmacy in New York City on May 27, 2021. (Noam Galai/Getty Images / Getty Images)
Rite Aid operates over 1,700 stores across the country, according to its website.
It has been undergoing bankruptcy proceedings since mid-October, when it announced its decision to pursue Chapter 11 as part of a restructuring to "significantly reduce the Company’s debt, increase its financial flexibility and enable it to execute on key initiatives."
Customers inside a Rite Aid store in New York on Oct. 16, 2023. (Bing Guan/Bloomberg via Getty Images / Getty Images)
Rite Aid said the proceedings would involve continued store footprint optimization.
RITE AID CLOSING 154 STORES IN 15 STATES: HERE'S THE LIST
"The court-supervised process provides Rite Aid with legal tools to accelerate our footprint optimization in an efficient and orderly manner," Rite Aid CEO Jeffrey Stein said at the time. "We look forward to working closely with our landlords to determine the best path forward for each of our stores."