CVS Pharmacy to take over many Rite Aid, Bartell Drugs store sites in Pacific Northwest

CVS will acquire many Rite Aid and Bartell stores in the Pacific Northwest following Rite Aid's Chapter 11 bankruptcy filing on May 5. Rite Aid's press release confirmed that stores transitioning to CVS will remain operational during the process. However, Rite Aid is also closing several locations, including a Granite Falls store slated to close after June 6, leaving the independent Granite Falls Pharm A Save as the town’s only drugstore. CVS, which has 38 stores in Washington, currently lacks a presence in east Snohomish County. The bankruptcy process has seen Rite Aid sell off unexpired leases from its 1,240 stores to various pharmacy chains, including Walgreens and Kroger.

This restructuring reflects Rite Aid's significant financial challenges, including debts exacerbated by government-led opioid prescription lawsuits. Rite Aid has lagged behind larger chains like Walgreens and CVS in size and financial stability. The acquisition by CVS signals a shift in the competitive landscape of drugstores in the region.