Massive Drug Store Chain Announces More Closures Amid Bankruptcy, Connecticut Affected

What is with all of these massive retail chains and their bankruptcy? There have been more and more closing and it doesn't seem to be stopping.

I'm not sure if this is necessarily a good thing or a bad thing? Maybe it's good for local businesses. It gives us an opportunity to keep those independent businesses open, but it's still crazy to see the masses of corporate owned stores closing and filing for bankruptcy.

In 2023, Rite Aid filed for Bankruptcy after its $3.3 billion in long-term company debt which exceeded the $1 billion of company assets. According to MassLive, a recent court filing for the company brought the Rite Aid closures around the country in 2024 to 77 stores.

Connecticut Affected by Rite Aid Bankruptcy

There are a few different stores in the Northeast that are being affected by the closures, including Massachusetts, Connecticut, New York and New Jersey. The Connecticut Rite Aid location chosen to close due to the bankruptcy is the Milford location at 1360 Boston Post Road. After a quick google search, it appears that the store has already closed.

Get our free mobile app

Massachusetts has 2 locations closing, New Jersey has 6 locations closing and New York has 12 locations closing. As the numbers continue, do we think more stores will be affected by this in the future?

Connecticut is currently home to 13 Rite Aid stores with 3 stores in Greater Danbury. There are 2 Danbury stores and 1 Brookfield store.

Let's see what the future of these stores are as the year goes on. I am curious to see if we will have to switch our pharmacy to CVS or Walgreens. Only time will tell.