"Once our assets are sold, Rite Aid will no longer exist." During the sale process, Rite Aid stores will remain open, and keep filling prescriptions and providing vaccines, Rite Aid said in a press release. The bankruptcy court will hold a hearing on the sale process on May 21, Rite Aid said. On June 6, the court will hold a hearing on Rite Aid's plan for financing while it winds down the company, Schroeder told employees. Walgreens, Albertsons, Kroger and Giant Eagle did not provide comments. Rite Aid fell victim to falling profits from prescriptions, government fines related to opioid pain medicines and a decline in consumer spending. The challenges have affected all the major retail pharmacies, which have closed more than a thousand of stores across the country in recent years. CVS, which had more than 9,000 locations at the end of last year, plans to close about 270 in 2025. Walgreens said it will shutter hundreds of stores this year.