Marley Jay is a business news reporter for NBC News Digital.
Rite Aid says it will close at least 154 stores as it goes through bankruptcy. The chain had 2,253 stores as of September 3, and the U.S. Bankruptcy Court in New Jersey also approved additional closings at a later date. The company has not disclosed how many more stores it may shut down. Rite Aid filed for Chapter 11 bankruptcy protection on Sunday after struggling for years with debt and sluggish sales.
The loss of pharmacies is a serious problem, especially for people in poorer urban and rural areas, according to Nick Fabrizio, senior lecturer in health policy at Cornell University and also a consultant for hospitals and medical groups. 'If that's your one Rite Aid that's closing, the thought of having to go 20 minutes to find another Walmart or another pharmacy is daunting,' he said, referring to people in smaller towns.
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