A national pharmacy chain with five locations in the Tri-Cities, including the only nearly 24-hour pharmacy, has declared bankruptcy and intends to sell all parts of its business. 

Rite-Aid Corp. announced its initiation of Chapter 11 bankruptcy proceedings, its second time since 2023, on May 5, according to a release.  

Customers can continue to fill their prescriptions and shop in-person and online. However, Rite-Aid plans to transfer customer prescriptions to other pharmacies as part of its sale process. Any stores not sold will be shut down. 

“While we have continued to face financial challenges, intensified by the rapidly evolving retail and health care landscapes in which we operate, we are encouraged by meaningful interest from a number of potential national and regional strategic acquirors,” said Matt Schroeder, the company’s CEO, in a statement. “As we move forward, our key priorities are ensuring uninterrupted pharmacy services for our customers and preserving jobs for as many associates as possible.” 

Rite-Aid has secured nearly $2 billion in additional financing from its current lenders to carry the business through the bankruptcy process and sale.  

The Rite-Aid at 101 N. Ely St. in Kennewick offers near 24-hour pharmacy services, though its pharmacy does close between 1:30 and 2 p.m. each day for staff to take a lunch break.  

Rite-Aid, founded more than 60 years ago in Scranton, Pennsylvania, has stores in New England and the Mid-Atlantic and the western states of California, Idaho, Oregon and Washington.  

It has struggled financially ever since it has faced lawsuits for its potential role in the opioid crisis. The chain’s pharmacies have criticized their frequently bare shelves, a result of the company’s vendors requiring upfront payment for inventory.