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Private Equity?
So yeah, they bought the part of the business they give a shit about and are systematically closing the rest of the business, a.k.a. brick and mortar stores.
Private equity don’t really give a shit about that fixing any lthing. So they print a bunch of corporate word salad mumbo-jumbo about how they’re gonna fix shit and when it doesn’t work out, they’re like yep we got the money that we want and the business part that is valuable. Fuck the rest of it. Who cares if there’s another food desert, or whatever the medical equivalent is, and all the rural towns at the rely on these pharmacies for medication.
I guess Walmart pharmacy wins by default.
Private equity bought them after they filed for bankruptcy. Doesn't explain how the were $2B in debt before the chapter 11
https://tinygrab.com/who-bought-rite-aid-in-2025/
Yes they had debt before, that’s why they went bankrupt in the first place. Now they are going bankrupt because private equity decided to buy the business and sell off what they don’t want.