NEW YORK (1010 WINS) — Rite Aid is closing or selling all of its remaining New York stores after filing for bankruptcy on Monday for the second time in less than two years.
According to a press release, the drug store chain, which has 178 still-open stores in the state, is "pursuing a strategic and value-maximizing sale process for substantially all of its assets."
All Rite Aid distribution centers will close with employee layoffs expected to begin on June 4, WKBW in Buffalo reported.
All remaining New York stores will either shut down or be operated by a new owner other than Rite Aid.
Rite Aid plans to collaborate with customers to seamlessly transfer their prescriptions to alternative pharmacies. While some of the current locations could be acquired by a different company and remain open, the company called the sales process fluid.
The company plans to sell customer prescription files, inventory and other assets as it closes distribution centers and unloads store locations. Stores will remain open for now, but the company isn’t buying new inventory so bare shelves are likely become more common.
The Associated Press contributed to this report.