Still Owes $2.5 Billion: Rite Aid Files Bankruptcy Twice in 2 Years — Customers Left in Limbo.

Still Owes $2.5 Billion: Rite Aid Files Bankruptcy Twice in 2 Years — Customers Left in Limbo.

In the USA.

The news as it trends.

Rite Aid, once one of America’s largest pharmacy chains, has filed for Chapter 11 bankruptcy protection for the second time in less than two years.

The company first filed in 2023 to restructure $2 billion in debt and settle opioid-related lawsuits.

It emerged from that process in 2024 — but by May 2025, it was back in bankruptcy court.

This time, Rite Aid cited continued financial struggles, shrinking drug margins, and fierce competition from Amazon, Walmart, and CVS.

Despite selling off assets and closing over 1,000 stores, the company still carries $2.5 billion in debt.

Experts say more closures are expected, creating what they call “pharmacy deserts” — areas where millions of Americans now lack easy access to medications.

Critics are questioning whether this is the result of corporate greed, mismanagement, or deeper structural issues in the retail pharmacy industry.

The company has also failed to secure new funding and is now in the process of winding down or selling off its remaining stores.

As the news trends, many are asking: Will Rite Aid’s collapse impact your community?