Rite Aid, once a staple of neighborhood drugstores across the country, is closing all 48 of its New Hampshire locations as part of its ongoing Chapter 11 bankruptcy proceedings. The move comes as the pharmacy chain seeks to restructure and sell off assets in a bid to manage massive debt and operational losses. The company filed for bankruptcy protection in May 2025, making it the second time in less than two years. Now, the process of shuttering stores and transferring pharmacy records across the state has already begun.
A Long-Struggling Chain Comes to an End
According to Seacoastonline, Rite Aid plans to close over 900 stores nationwide. The closures in New Hampshire represent a full exit from the state, impacting communities in Concord, Manchester, Nashua, Portsmouth, Milford, and beyond. The most recent round of closures, announced on June 20, includes four additional New Hampshire stores:
53 Hooksett Road, Manchester
577 Mast Road, Manchester (Pharmacy business closes July 22)
15 Mont Vernon St., Milford
10 Benning St., West Lebanon (Pharmacy business closes July 21)
These join 37 other previously announced closures across the Granite State.
According to court documents, Rite Aid is pursuing the sale of prescriptions, pharmacy inventory, and select real estate. For the remaining stores, which are not acquired by other operators, full closures are inevitable. The company has indicated that store locations may remain open temporarily to liquidate merchandise, but pharmacy operations will end first.
Financial Struggles and Strategic Mistakes
Rite Aid has been on shaky financial ground for years. Despite its 2023 bankruptcy and restructuring, the company failed to stabilize amid a retail environment increasingly dominated by online competitors, theft-related shrinkage, and declining prescription margins.
According to the NH Patch, The company listed liabilities between $1 billion and $10 billion in its latest bankruptcy filing, reflecting the scale of its financial distress. CEO Matt Schroeder noted that “meaningful interest” has emerged from potential acquirers, including national and regional pharmacy chains. However, he emphasized the need for a streamlined shutdown process to protect continuity of care.
Rite Aid had operated about 2,000 stores as recently as 2023. That number has now dropped to approximately 1,240 as the chain winds down.
Prescription Transfers and Patient Impacts
Rite Aid is automatically transferring customer prescription records to nearby pharmacies, primarily CVS. These transfers have been uneven in convenience. Some customers in Manchester, for example, will see their prescriptions moved just a few hundred feet from 270 Mammoth Road to a CVS at 250 Mammoth Road. Others, such as those from the Allenstown store, will have to drive over 15 minutes to Hooksett for their new pharmacy. Mid-State Health Center has encouraged patients to proactively select a new pharmacy and request profile transfers to ensure continuity of care.
Pharmacy operations at several locations have already ceased, with prescriptions redirected. Retail areas may stay open briefly, but the company has stopped restocking, suspended its rewards program, and announced that gift cards and returns will no longer be honored beginning in August.
New Hampshire Property Sales and Lease Transfers
Not all Rite Aid properties were company-owned. For example, the Rite Aid at 92–94 South Street in Concord was sold in March to Red Eagle Management of Hooksett for $1.7 million, according to the NH Patch. Other locations are owned by out-of-state entities.
Seven Rite Aid locations in New Hampshire, including in Concord, Durham, Lee, Meredith, Newport, and two in Manchester, are part of a lease bidding process. These could be picked up by rival chains or independent operators, though no formal transactions have been finalized.
A Changing Retail Pharmacy Landscape
Rite Aid’s collapse underscores the volatility of the modern retail pharmacy industry. All three major U.S. chains—CVS, Walgreens, and Rite Aid—have been closing stores in recent years amid shrinking reimbursement rates, evolving consumer habits, and rising operating costs. Rite Aid has proven most vulnerable.
As New Hampshire residents prepare for the final wave of closures, the company’s departure leaves gaps in local health care access, particularly in rural areas where alternatives may be less accessible. For many, the closing of their neighborhood Rite Aid marks the end of a longstanding local convenience; and a telling sign of larger shifts in how Americans access retail health services.
