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 A Rite Aid store in Glendale, California in 2023 | |
| Formerly | Thrift D Discount Center (1962–1968) |
|---|---|
| Company type | Private |
| Industry | Retail |
| Founded | September 12, 1962 In Scranton, Pennsylvania, United States |
| Founder | Alex Grass |
| Defunct | 2025 |
| Fate | Chapter 11 bankruptcy and liquidation |
| Headquarters | Philadelphia, Pennsylvania, United States[1] |
Number of locations | 1,240 (May 2025)[2] |
Key people |
|
| Products | Pharmacy, grocery store, liquor store |
| Revenue |  US$24.04 billion (FY2021)[3] |
 US$47.14 million (FY2021)[3] | |
| US$−90.9 million (FY2021)[3] | |
| Total assets | US$9.335 billion (FY2021)[4] |
| Total equity | US$615.2 million (FY2021)[4] |
Number of employees | 31,000 (2024) |
| Subsidiaries | Bartell Drugs[5][6] |
| Website | www |
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania.[1] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. Before its bankruptcy in 2023, it was the third-largest drugstore chain in the United States. The company has more than 1,200 stores in 15 U.S. states, primarily on the East and West coasts.
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD, and ranked No. 148 in the Fortune 500 in 2022.[7] In October 2023, the company filed for Chapter 11 bankruptcy, due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis.[8]
- ^ a b "Rite Aid Opens New Modern Headquarters in Philadelphia's Navy Yard". Retrieved July 13, 2022.
- ^ "All Rite Aid locations".
- ^ a b c "Rite Aid". Yahoo Finance. Retrieved October 28, 2021.
- ^ a b "Rite Aid". Yahoo Finance. Retrieved October 28, 2021.
- ^ "RITE AID TO ACQUIRE BARTELL DRUGS |". Bartell Drugs.
- ^ "Bartell Drugs, a local, family-owned business for 130 years, to be sold to Rite Aid for $95 million". The Seattle Times. October 7, 2020.
- ^ "Fortune 500 Companies". Fortune. Retrieved July 30, 2022.
- ^ Holman, Jordyn; Hirsch, Lauren (October 16, 2023). "Rite Aid, Facing Slumping Sales and Opioid Suits, Files for Bankruptcy". The New York Times. ISSN 0362-4331. Retrieved October 16, 2023.
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