Rite Aid closing 24 stores in Virginia, several in Hampton Roads

This photo shows a sign of Rite Aid on its store in Pittsburgh on Jan. 23, 2023. Rite Aid, a major U.S. pharmacy chain, said Sunday, Oct. 15, that it has filed for bankruptcy as part of its effort to restructure its finances. (AP Photo/Gene J. Puskar, File)

by: Brian Reese, Sean Davis

Posted: Jul 31, 2024 / 11:59 AM EDT

Updated: Jul 31, 2024 / 07:25 PM EDT

VIRGINIA BEACH, Va. (WAVY) — Two dozen Rite Aid stores are closing in Virginia overall as the pharmacy chain undergoes a major restructuring since filing for bankruptcy in October.

10 On Your Side confirmed 24 stores in the commonwealth are among the nearly 700 that have either closed or have been announced for closure nationwide, some of which have been closed for some time. The latest round of closures announced in bankruptcy filings were first reported by PennLive.com.

Last month, a judge approved a restructuring plan for Rite Aid that allows the company to cut its debt by $2 billion and turned over to a group of lenders, Reuters reported. That saved about 28,000 jobs that would have been lost if the deal wasn’t approved, Rite Aid’s attorney said.

In addition to closing hundreds of its stores, Rite Aid also used the bankruptcy to sell its pharmacy benefit company Elixir, negotiate settlements with lenders and others, including governments and individuals who’ve sued it for allegedly contributing to the U.S. opioid epidemic.

The closures leave a handful of locations that are still open in Hampton Roads, including one one 21st Street in Norfolk.

Here’s the full list of stores that have closed/are closing in Virginia: