Rite Aid, the third biggest pharmacy outlet in the US, has filed for bankruptcy again, making it the second time in two years. As a result, the major drug chain may be closing even more of their stores around the country.

At present, it isn’t clear how many of the Rite Aid drug stores are going to be closed. However, they are looking to sell off all of their “prescriptions, pharmacy and front-end inventory, and other assets.” This implies that there won’t be many of them left once their debts have been cleared.

The major drug store chain plan to sell off all their assets to one or more buyers in the bankruptcy. They have listed liabilities in the range of $1 billion to $10 billion and will have to attempt to cover them. In the sell off, many of the Rite Aid stores will be closed permanently.

Public Fears ‘Pharmacy Deserts’ With Rite Aid Closures

Drug Store Rite Aid has reassured their current customers that “the majority of our stores will remain open and operating for the next few months. You can continue to access pharmacy services and products in stores and online, including prescriptions and immunizations.”

However, once those short months are over and the sell off begins, that can no longer be guaranteed. This has sparked a fear of ‘pharmacy deserts’. In this situation, many people are unable to reach a pharmacy to get their medications, immunizations, and other medical necessities.

Talks are already being held about the sale of Rite Aid. They are trying to prioritize a seamless transfer for both users and employees of the drug store giant. CEO Matt Schroeder reassured people that “As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.”

But, the collapse of Rite Aid aside, it’s alarming to see something as core to the US economy as a pharmacy going under. This is the third biggest in the US. Furthermore, pharmaceuticals are the fourth largest contributor to the US economy. You have to question how they have been allowed to slip into bankruptcy.