Popular drugstore chain makes major changes to overtake rivals

Over the last few years, many pharmaceutical retail chains have struggled to survive amid growing competition from e-tailers. These companies have lost clients due to the ever-evolving consumer, who tends to lean more toward online retailers for their medical and everyday needs.

In 2023, Rite Aid filed for Chapter 11 because it was drowning in debt, facing tumultuous revenue declines, and trying to pay off multiple opioid settlements. A year later, it emerged from bankruptcy after being acquired by a new owner and becoming a private company.