Another Rite Aid store in the area is slated to close, according to recent court filings in the company’s ongoing bankruptcy case.
The latest closure notice impacts the Rite Aid located in the Summit Square shopping center along the Newtown Bypass in Middletown Township.
The Newtown Township Rite Aid remains open and has not been listed on closing lists filed with the court.
The new closure adds to a growing list of local Rite Aid shutdowns, including locations on New Falls Road in Bristol Township’s Levittown section, in the Shoppes at Flowers Mill on North Flowers Mill Road in Middletown Township, on Pond Street in Bristol Borough, and on Lincoln Highway in the Fairless Hills section of Falls Township.
Employees have been informing customers of the upcoming closures.
The closings are part of a nationwide wave as the Philadelphia-based company continues to grapple with significant financial challenges.
Rite Aid initially filed for bankruptcy in 2023 and emerged in 2024, but recently announced it is “pursuing a strategic and value-maximizing sale process for substantially all of its assets.”
Retail locations in Bristol Borough and Falls Township closed during the 2023 bankruptcy.
In spring, Rite Aid sold its pharmacy assets to several companies, including CVS Pharmacy, Walgreens, Albertsons and Kroger.
Despite its prior restructuring, local Rite Aid stores have reportedly faced issues with bare shelves for the past two years.
A court document filed in New Jersey bankruptcy court indicated that Rite Aid’s post-bankruptcy plan was contingent on vendors returning to less restrictive payment terms and assurances of credit from capital providers, which the company claims did not materialize.
Rite Aid also cited macroeconomic pressures and reduced consumer spending as contributing factors to its financial woes.
Customers are advised that Rite Aid stopped honoring gift cards and accepting returns or exchanges after June 5.
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Earlier this year, Rite Aid operated more than 1,000 stores nationwide, with hundreds now slated for closure.
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