Several Rite Aid stores have suddenly closed in recent weeks, including some in the Midstate. The chain now has fewer stores than its main rivals Walgreens and CVS, has billions of dollars in debt, and faces massive lawsuits over its alleged role in the opioid crisis. Copyright 2023 Nexstar Media Inc.

Thrift D Discount Center Alex Grass founded Rite Aid in 1962 originally as Thrift D Discount Center. Rite Aid acquired Envision Pharmaceutical Services for $2 billion in 2007.

In March 2018, Walgreens and Rite Aid agreed to a $4.3 billion deal for Walgreens to purchase 1,932 Rite Aid locations and 3 distribution centers. Amazon announced in June 2019, that Amazon shoppers will be able to pick up their purchases at designated counters inside more than 100 Rite Aid stores across the US.

Began in 1962 with a single store in Scranton, Pa., called the Thrift D Discount Center, Rite Aid was the brainchild of founder Alex Grass, a Scranton-born lawyer who entered the business world in the early 1950s after marrying into Harrisburg's Lehrman family.

The top U.S. pharmacy in 2022 by market share based on prescription drug revenue was CVS Health Corporation, followed by Walgreens Boots Alliance. CVS Health held over 25 percent of the prescription drug market revenue at that time.

The new branding signals “natural and organic”, he added, and helps “to move away from other competitors” and align with its stated purpose as a wellness company.

Rite Aid, one of the largest pharmacy chains in the United States, filed for bankruptcy on Sunday, weighed down by billions of dollars in debt, declining sales and more than a thousand federal, state and local lawsuits claiming it filled thousands of illegal prescriptions for painkillers.

The transaction completed on February 19, 2010. On March 24, 2011, Drugstore.com was acquired by Walgreens for $409 million. On July 28, 2016, Walgreens said it would shut down Drugstore.com and Beauty.com at the end of September, 2016, to focus on its own Walgreens.com website.

Rite Aid and CVS provide similar product offerings. Rite Aid has a brighter, more welcoming atmosphere than CVS. CVS and Rite Aid have rewards programs with similar offerings, discounts and savings. CVS has significantly more locations, spread out in numerous more states than Rite Aid.

CVS Health Rite Aid is a major player in the drugstore segment of the retail industry. Some of its direct competitors including CVS Health and Walgreens Boots Alliance. The chain also faces competition from major retailer Walmart and pharmacy departments of major national supermarkets.

Rite Aid (RAD) stock is dropping alongside reports of store closures. Insiders claim the company will shutter between 400 and 500 locations. This would be part of the company's ongoing bankruptcy negotiations.

About 92 percent of prescription drugs in the United States are distributed through wholesalers, with three - AmerisourceBergen, Cardinal Health, and McKesson Corporation - accounting for more than 90 percent of wholesale drug distribution in the United States.